EURUSD Support Tomorrow / Next Week

Published May 1st, 2009 - 01:32 GMT
Al Bawaba
Al Bawaba

As detailed in numerous technical reports today, EURUSD wave structure has changed from bearish to bullish, at least for a few weeks.  In order to position for the move up through 1.3742, it is necessary to identify near term support.  Watch the 61.8% of the advance from 1.2965, at 1.3125.  1.3150 is floor trader pivot S1 tomorrow.  Price must remain above 1.2965 in order to keep the bullish count on track.