 | | Classical Outlook: Weekly studies still show plenty of room to run and we look for additional setbacks towards the 0.8200 area. As per our commentary in the previous week, a lower top appears to be carving out by 0.8700, with the market putting in a very impressive bearish reversal week. | | Elliott Wave Outlook: The EURGBP appears to have completed a correction from the December 2008 top. The structure of the decline since then is not especially clear, which is the first sign that the pair in question is stuck in some sort of correction. However, the rally off of the low is choppy as well. Price is in the middle of a multi-week range right now so near term direction is unclear. Above .87 exposes .8870 and below .84 exposes .8230. | |
No comments:
Post a Comment