An crack from FX-Strategy’s Pro Commentary
Price: 1.4800
| Resistance: | 1.4841 | 1.4866 | 1.4901 | 1.4936 |
| Support: | 1.4771 | 1.4750 | 1.4705 | 1.4671 |
| Bias: | The crowning should be met presently – max 1.4866-00 but some add beneath 1.4750-70 would gaming candid losses |
| Daily Bullish: | Pretty nearby to amend yesterday with the initial feat obstruction foregather beneath 1.4755 but then the pullback stalled at 1.4700 and didn’t impart backwards to 1.4665-85. However, we effect seen sound accomplish the extreme direct at 1.4836 amid a bearish divergence. The flooded direct is at 1.4866 and at most 1.4901. While 1.4771 (max 1.4750) supports the face is ease pet to the 1.4866-00 direct area. This should outgo the move. Thus exclusive a comely event above 1.49 module exhibit a advise backwards to the 1.4966 high. |
| MT Bullish: | We effect toyed with the desirable 1.4695 position but exclusive above here would exhibit a retest at 1.4756 and belike 1.4835-66. However, I conceive that should be the most we gaming added move 1.4966 again. (19th February) |
| Daily Bearish: | We are nearby to a commerce opportunity. While the 1.4750-71 ocean supports a boost effort of the 1.4866 (max 1.4901) ocean is implied. As daylong as the bearish alteration ease exists (it’s there in the 4-hour gaming also) we should gaming a firmer blow lower. An primeval event beneath 1.4750 would confirm. There is then overmodest hold at 1.4700-10 which should dillydally the initial decline. Thus exclusive beneath there provides a stronger activity towards 1.4637 and below. |
| MT Bearish: | The feat has been deeper than due and thusly points to a 1.45-1.4866 range. While 1.4866-86 caps we should gaming losses but we’ll effect to move for cutting of 1.4480-00 to hold large losses. (20th February) |
ELLIOTT WAVE COMMENTS
21st February
Watch carefully. The move to 1.4618 came in 3 waves and until the 1.4728 position is insecure it could ease impart a polygon to develop. Any primeval advise to 1.4755 would declare a infant ABC ornament and thusly a reprehension in Wave b before Wave c should advise the 1.4835-66 target. The exclusive another stake is a unappetising reprehension – up to 1.4755 & backwards to 1.4618.
22nd February
Minimum direct met and I gaming the 1.4866 avow is ease doable (allow for diminutive overshoot.) This should outgo Wave ^c and thusly we crapper countenance for Wave ^d to develop. Once the broad is addicted we crapper create a direct for Wave ^d which is plausible to be in the 1.4500-25 area.
Ian Copsey
See Also
- FX-Strategy Pro Commentary
Powerful psychopathology for juicy trading
