Fore Euro/ USd H4 - It touches 78.6 fibo and turn, as you can see that it still in the down in the main trend. The 2nd wave pull back is higher than the 1st one and also the wave length is also shorter means the bearish strength is loosing out. This down turn will not go too far as we saw the Daily candle shown it will go up further. So I will say this 3rd wave down is going to be a short wave. Once it break that 1.4327 where the top arrow is pointing then the bearish main trend days are over.Thursday, August 20, 2009
Forex Euro/ Usd, H4 - 20 August 09
Fore Euro/ USd H4 - It touches 78.6 fibo and turn, as you can see that it still in the down in the main trend. The 2nd wave pull back is higher than the 1st one and also the wave length is also shorter means the bearish strength is loosing out. This down turn will not go too far as we saw the Daily candle shown it will go up further. So I will say this 3rd wave down is going to be a short wave. Once it break that 1.4327 where the top arrow is pointing then the bearish main trend days are over.
