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EURUSD Intraday ElliottWave

EURUSD forex elliottwave
EURUSD
Saturday, 21 September 2013 at 3:14:00AM AEST   
Market missed our Buy Limit orders on EURUSD, this time for around 6 pips. Pair is now 40 pips higher so maybe...

 

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Intraday

EURUSD updated chart
Saturday, 21 September 2013 at 3:14:00AM AEST   

Market missed our Buy Limit orders on EURUSD, this time for around 6 pips. Pair is now 40 pips higher so maybe wave four is already complete. It's also Friday and with German elections on Sunday we may see a gap next week when market reopens. Therefore we think its fine to remove orders, and maybe will put it back on Sunday/Monday. It depends on the coming price action.

 

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4Hour

Eur/Usd 4 Hour Chart
Friday, 20 September 2013 at 4:16:00PM AEST

- impulsive rally

EURUSD broke to the upside in this week and closed above 1.3500 figure on a daily basis which suggests more upside in days ahead. The reason for this outlook is a sharp rally from 1.3320 low which appears to be a third leg within a third based on the personality of the move. Recently a third leg has stopped in 1.3520-1.3585 resistance area so we suspect that contra-trend movement is wave iv) that could look for completion around 1.3480 figure. Keep in mind that larger trend is up and that uptrend could resume soon into wave v) of (iii). This outlook remains valid as long as 1.3384 level is not breached.


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