Eur/Usd : Pause in uptrend

12 באוג׳ 2015

Yesterday i warned that a break of the trend line was imminent. I was looking for prices to go a little lower first but the elliott wave count remains exactly the same. Today the break happened and prices rallied higher to just above 1.12. Now things get interesting again because the count presented yesterday suggests that this is the end of a first corrective rally inside a bigger corrective rally. Look for price to go down and retest the broken trend line after which the rally will resume.