A couple of different options on the EUR/USD right now. Either we see the retrace now and play the subsequent bounce or we move higher, looking to short at previous daily/weekly/monthly S&R at 1.4575.
Below is my first bounce area in case we see a retrace from current levels. Would look to long around 1.43. Some fib confluence just below.
http://i24.photobucket.com/albums/c2...th_euraug4.jpg
Below is the alternative, a short around 1.4575. A close up follows the bigger view...
http://i24.photobucket.com/albums/c2...ug4bigview.jpg
Close up below...
http://i24.photobucket.com/albums/c2...wcloseaug4.jpg
And of course I'm also watching the linked USD/CHF, which can sometimes provide a cleaner level. We have a picture perfect short level around 1.0730...but we have to get there first Chart below...
http://i24.photobucket.com/albums/c2...usdchfaug4.jpg
Comments welcome!
Below is my first bounce area in case we see a retrace from current levels. Would look to long around 1.43. Some fib confluence just below.
http://i24.photobucket.com/albums/c2...th_euraug4.jpg
Below is the alternative, a short around 1.4575. A close up follows the bigger view...
http://i24.photobucket.com/albums/c2...ug4bigview.jpg
Close up below...
http://i24.photobucket.com/albums/c2...wcloseaug4.jpg
And of course I'm also watching the linked USD/CHF, which can sometimes provide a cleaner level. We have a picture perfect short level around 1.0730...but we have to get there first Chart below...
http://i24.photobucket.com/albums/c2...usdchfaug4.jpg
Comments welcome!