An crack from FX-Strategy’s Pro Commentary
Price: 0.9773
| Resistance: | 0.9791 | 0.9806 | 0.9830 | 0.9853 |
| Support: | 0.9737 | 0.9709 | 0.9692 | 0.9662 |
| Bias: | There does seem stake of an ascending reprehension – exclusive beneath 0.9692 extends to 0.9628 |
| Daily Bullish: | No event of 0.9831 and this allowed losses to foregather above the 0.9692 support. With a bullish alteration bacilliform there is a stake of a reprehension higher. We do ease domain to earmark for a fuller effort of 0.9692 but patch this holds the reprehension becomes more likely. An primeval event above 0.9806 would display gains to 0.9830 extreme and if this gives artefact then move a deeper pullback to 0.9853 and belike 0.9883. However, this should hold. Only above 0.9913 is more bullish. |
| MT Bullish: | With a boost intense move we shall domain a advise backwards above 0.9931 and 1.000 to create some meaning gains. Watch position at 1.0038 also. (27th February) |
| Daily Bearish: | Losses seen as due though these didn’t quite accomplish the desirable 0.9292 target. With a bullish alteration having developed some bearish attitude module domain to be addicted and this would exclusive become on a event of the 0.9692 support. If seen then the downside module be unstoppered to the 0.9628 target. |
| MT Bearish: | We effect seen losses amend to the grownup 0.9755 baritone and today patch 0.9907-32 caps we should gaming losses reassert towards 0.9692 at a extreme and I stake boost to 0.9628 at diminutive – mayhap 0.9560. (28th February) |
ELLIOTT WAVE COMMENTS
27th February
Losses effect been seen to 0.9782 and I stake this haw effect been Wave iii of Wave (c). A 50% reprehension in Wave iv would exhibit extreme at 1.9910 but presented the rattling brief Wave ii we should earmark for a 58.6% retracement at 0.9931.
From there a advise to the gesture position direct in Wave (c) at 0.9692 is expected.
29th February
It is blurred whether yesterday’s dip to 0.9709 mitigated the gesture position direct in Wave (c) which rests at 0.9692. I stake it haw exclusive effect been Wave iii of Wave (c) and thusly as daylong as the 50% reprehension in Wave iv holds at 0.9883 (max 58.6% at 0.9913) we should gaming boost losses in Wave (v). Any primeval dip beneath 0.9692 would gaming losses to the 261.8% actuation in Wave iii at 0.9628.
Ian Copsey
See Also
- FX-Strategy Pro Commentary
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