EUR/USD H1 VSA Update

General Overview on 13/07/2013 19:00 CET:

Wave progression to the upside still does not look finished and the most probable structure is wave X Triangle as long as 1.3000 level holds.
Time cycle analysys shows the most probable date to finish the wave Y on Monday 15th July. It will meet the very common time retracement relationship of 38%Fibo then.
We will see.
And please mind the gap…

Support/Resistance:

1.3285 – Target for wave Y
1.3214  – Swing High
1.3007 – Triangle (?) Support
1.2991 – 1.3007 – Gap
1.2901 – Wave 4 Support
1.2755 – Swing Low

Trading recommendation:

Go long on Triangle break out @ 1.3081 with TP @ 1.3285.

Seb

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About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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