EUR/USD Still in Consolidation; Invalid Bullish Count
EUR/USD Still in Consolidation; Invalid Bullish Count 4H: The EUR/USD was expected to reach 1.29 and maybe even 1.2950 last week. This area was expected to be resistance for the market, and a decline was expected towards 1.28. Refer to “Weekly Technical Update 9.3.2010“. The high of A could have been alternately the high of wave 1. However, now that the market fell below 1.28, this bullish count is no longer valid. Instead, the market is showing continuing consolidation. The C wave had