December 08, 2011 4:22:57 PM by
Peter
Forex EURUSD 1.34
TradingLevels: Still looking for support on the Fibo number 34 (1.34) there is also trendline support from the 25 Nov… the 134 has not been tested as support, the price over the last three days has been able to gain support here, the price swings are diminishing into the 134 as the balance line, so time will tell, so wait for the price to decide which side of the line it will sit.
Elliott Wave: Same - Wave (c) of B is completed and a move higher, in line with the AUD and Indices moving higher with a lower US Dollar
Forex Trading Strategy: If the Elliott count is correct the bias is up and therefor you can use the 134 as the bias and Group1 {13410 | 1.3420 | 1.3430} to build the long trade. If the SG2 1.3372 becomes the resistance this time round then you need to be short
EURUSD Forex Trading Strategy Report Technical Analysis Elliott Wave