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Thursday, 13 March 2014

EUR/USD H4


General Overview for 13/03/2014:
The market has choosen to make last impulsive leg up and now the level of 100% Fib Ext has been hit. H4 close below this level means the level has been recognized and the top for wave 5 red is in place. Please notice the momentum oscilator is diverging from the price in BEARISH way. Another confirmation comes from very basic VSA analysis: the price is going up on diminishing voume, so someone is bluffing here. The Yao Ming bar on H1 chart suggest there is a weakness in the background.



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