Friday, 8 February 2013

Technical Analysis Of EUR/USD on 08/FEB/13

The major currency pair slipped below the 1.3469 and also monthly pivot level yesterday, as the price finally pulled away from a flat zone at 1.3584/54. Currently EUR/USD s being supported by 1.3375. If consolidation takes a lead further, the next support levels will be the 1.3293/73 zone, where the FIBO and Moving average, weekly support level are located.

Elliott Wave Analysis - In yesterday wave count i  expect Wave [b] of c from 1.3440 level but this level is breached and fell below the Monthly pivot level. Wave [c] is started from the weekly pivot point.

 
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