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Saturday, 6 October 2012

EUR/USD H1,H4 & Daily Update + Gann Fan + Regression Lines

Because wave B can not be in 5 waves we are on the cross roads here: either we will break up in impulsive fashion to develop wave C or the price will break through support and will progress with wave c to the downside.

Chart H4 and Daily present bullish perspective.

Bullish case is being supported by Gann Fan 1x1  line (no break of this most important line). Please notice : If price break through to the upside then next Gann resistance line is somewhere at 1.3400 area:

But bearish case is being in view by Non-Linear Regression Model. H4 clearly points to the downside:


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