Thursday, August 8, 2013

EURUSD: Final Stages within Uptrend-Elliott Wave Analysis

EURUSD has now finally managed to move to a new high for a few pips, which we think it represents wave 5), final leg within ending diagonal in wave C). However, there is room for 1.3410-1.3420 in current leg up but sooner or later we expect a turning point. Bearish divergence on the RSI and and very slow price action supports the idea of approaching top.

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