EurUsd Feb 23rd
February 24, 2012 Leave a comment
Finally, i can stick with a count on Eur. It is in wave C of a zigzag correction from the low, after completing wave B right under 1,30. The question is: spiking out of the yellow dashed triangle (usually wave 4, so the “thrusts” are last move before reversing) it completed the entire wave C or wave i of C? It should have some immediate downside, so the way it develops could tell what it has in mind.
Proportionally, i would count it better as i of C, so it should find support between 1,313 and 1,32 before continuing higher. A break of 1,30 would signal the next (and deep) wave down has started.
