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'Market and Human' Psychology perspectives with tips on how to avoid common mistakes by Pierre Charlebois, Senior Trading Coach at www.TradingPostFinancial.com

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EUR/USD at pivot point - New high is possible…

Posted on June 23, 2009 at 9:09 in Uncategorized by Pierre Charlebois

I wrote in my FX Weekly Report that the month-end could give way to a final thrust, up to the highs of the beginning of the month. Indeed the most recent move on the EUR/USD opens that door.

We are at crossroads on where the price action could go next. Ideally a 3 wave pull-back and continuation would point higher, whereas a drop below 1.38 opens the door to strong downside potential.

Tags: Elliott Wave, eur/usd, forex

One Response to “EUR/USD at pivot point - New high is possible…”

  1. on 23 Jun 2009 at 5:29 pm1St_Fx

    Hi Pierre,
    euro clear 1.4000 level, dollar index fell form 81.30 to 80.30 approx 100points. Interesting thing is that the dollar index stand around 50% of its high and low.Fx market recover its yesterday losses as the Equity market don’t . It doesn’t look that this break out of euro is to make lower high and dollar index resume its bullish run to weight on fx and equity markets bearish.

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