$EURUSD clear break of trend line resistance. This is exciting.

Just a quick post on my EURUSD Elliott wave count. In the previous post, I mentioned that I was very cautious on cross USD trading from that time. Now we know why.

So for now, I am concluding that 1.3265 was the mid term bottom of the EURUSD. Now it may be entering the purple .II rebound phase, and I corrected my Elliott wave count accordingly.

Basic technical analysis tells us the previous trend line resistance that has just overcome will now act was the support. I will watch for the retracement that should appear as non-impulse before I try buying EURUSD.

20100411-eurusd-720min

Quite a bit of actions here. Any traders should be excited!

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"","","","","$29,058.30","","","","","","","","","","","","","","","","","","","","41.95%","","","2.00%","","","","","","","","","","","","","","","","","","","","","","","","","","","",""
Rational Move always use stop loss orders, and this is the worse case potential loss over the capital for the currently open positions. This is unrealized loss is less or equal to the risk exposure.

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