Wednesday, July 13, 2016

#EURUSD Update

#EURSUD Update

I posted a different triangle a few days ago looking for an E wave up of the triangle.  That may still play out but a break of 1.11865 would invalidate that triangle and put this one in play.  

I have a feeling the pair is headed for 1.2951 to back fill the Brexit crash before heading lower.  This move up could still be part of the D leg or it could be the E leg of the larger triangle I have been posting on the Daily charts.  Either way it gives us a much better short entry toward the end of the week or early next week.  

I have posted an hourly and daily chart below.