Update: EUR/USD Short-term & Long-term View – Time for a bounce?

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. 

Regards,

 Jack Crooks

www.blackswantrading.com 

Comment