EURUSD - Longer term still in uptrend.

2013年12月8日

Last chart published almost 2 months ago had 1.38 as possible upside before retracement was right on Target. Check it out here tradingview.com/v/D9i1zcd7/

Also, on completion of the 5 wave move up to 1.38 zone I suggested 2 possible scenarios, both still bullish but with slightly different paths. Now we have bit more clarity so the Running Flat looks like being ruled out and will stick to Leading diagonal which actually fits better with DXY chart as you will see in updated chart below. But for now we could be close to completing a bounce for wave b though it could go higher before coming down in strong decline to form wave c of abc correction for wave 2 from 1.3830 area. Once that is completed, I believe we will commence wave 3 and that will be by inference very strong and dynamic and will head much higher than most anticipate.

Could give excellent long entry around 1.32 -1.34 zone. It is little wide but you will be able to monitor live chart and confirm evidence of bottoming around that zone for more accurate entry.