Friday, 29 July 2011

EurUsd cont...cont

The second screen shot shows /dispels the rule that P0 should be behind P1. Look at the RL that works perfectly and this type of fork often describes perfectly the limit of a move and even more a CL failure of this fork works well to predict coming weakness. Obviously not in this case as on the back of weak US data we see the white ML ( see previous posts) has supported price and there was little appetite for price to go lower.

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