Monday, March 15, 2010

EUR/USD Pair 3 Hour 3/15

Posting a 3 hour view fresh from this morning. I dug through the close details of the wave structure of the moves since the low on Feb 28th, and in particular since the rally from March 9th, and find nothin impulsive about it. In fact the move up last friday looks like a classic surge after a diagonal b (3 wave patterns in both directions on the short term charts). I added an alternate that while different at the smaller degree, has the same outcome. It is possible also to count the minute wave 4 as a wave b, but not highly probable IMHO due to the time duration of the move so far, and the less than ideal 5 wave count that would have to proceed it.


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