Update: EUR/USD Short-term & Long-term View – Time for a bounce?
29 July 2014/10:36 a.m. ET
29 July 2014 Last 1.3411: The next daily swing low comes in at 1.3398; today’s low was 1.3408 so far. I have been looking for a bounce that has not materialized. This would be a good place. I am looking for an opportunity to get short long term and would prefer to enter on a “correction.” See weekly chart next page.
EUR/USD Weekly View: No change to the view here. It appears the corrective rally labeled major B is complete. Oscillators pointing down…ultimately looking for a move to carry below 1.2000-level…I have an extension target that carries all the way to 1.14-level; i.e. wave C = A.