EUR\USD ( UPDATED REGULARLY )

29 Jul

EUR$ almost complete a 5 wave of C wave, if the counting is correct (and I supose that), EUR$ should not go higher than 1.3200, if its happen that mean wave 5 length greater than 1 and 3.

Although wave 1 equal wave 3 but I think but 5 would be shorter than other waves.

lets see

27 Jul

I prefer change the way of updating post, the new updating post will be in top.

EURUSD almost finish C wave and may see $ back to play a dominant role in forex.

i mentioned that eur-usd  forming reverse head & shoulders here

http://ta7aleel.blogspot.com/2010/07/eur-usd-possible-reverse-head-shoulders.html

I think euro-usd reach to strong resistance for many reasons :

1-  the price near to 38.2%.

2- the price near 150 MA.

3- target of reverse of H&S so close.

4-price near to previous support which is now a resistance.

all these reasons make area between 1.3060 - 1.3160 a solid resistance.

I believe that dollar will be stronger in long term but in short term there a space to make euro advance ( $ weaker).

21 Jul.

The chart show a 4 hours frame for EUR-USD, dollar decline as a correction wave ABC, as showing the C is underway, the last leg of C wave is a fifth wave, after finish fifth wave the  $ will follow the major trend as in weekly chart.

maybe see a small rally to 1.3050