Forum > View Topic
by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
don't really like counting waves in the first place.... furthermore waves within waves.. :)
the rally from 3428 low is clearly intact... and looks like to continue as long as 4350 level holds...
draw a support line from 3428 low to last week's low 4157 and i see that as main support line for rally from 3428 low... clear break and close below that line would likely signal end of rally from 3428 low...
if that support line would be the lower channel.... main upper channel can be drawn by drawing parallel line through 3861 high(wave I high on feb 2.)... which now runs thru roughly 4860/70 level..... within that channel you can draw more parallel lines to indicate minor/major support/resistance....
ahead of 4860/70 main resistance... i see 4760/80 resistance where we could see some reaction