The EURUSD had big possibility already in a wave 4 correction or beginning of wave 1. The bullish engulfing on a daily candle reinforce this and we may see the possibility of price go to 1.33 or 1.34 in next few days. Yesterday big move up had change the sentiment of the investor from bearish to bullish. Fundamentally, US give full support for the bailout of EU via IMF funding. The news set the Wall Street for a big gain overnight and encourage risk taking on the investor. The EURUSD may already be way oversold and bound for a correction.
By The Backyard Burner
No comments:
Post a Comment