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Thursday, April 12, 2012

EURUSD

EURUSD retraced 38.1% from the previous impulsive fall. There are two possibilities for this pair. First possibility is that we are in a 5 wave decline that will lead us bellow 1.26. The second possibility is that we are in progress of a zigzag corrective move, which will lead us to 1.29-1.2850 level and then we will reverse and go all the way back to 1.36. In either case, we have at least 250 pips on the way down.

Good Luck:)

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