Back in June it became apparent that we were having a major change of direction and not just a correction as purported by the Elliot Ravers. The objective is pretty obvious and we are nearly there and i expect to see price action carry us to the centre line ( shown in the blue fork above) either today or tomorrow with the rough objective of 1.2750 ish level. Time is pressing as the USD$ seems heavily oversold against currencies such as the CHF so i am expecting a vigorous sell off as longs are liquidated after we reach the CL.
http://medianlinetrader.blogspot.com/2010/06/it-seems-pretty-obvious-to-me-where.html
In the meantime a long trade entry can be sought after a retracement ideally on a upsloping RL and where there is a LMLP as well for support or on a buy stop critically placed to catch any violent up-move .
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