| Eurusd
Outlook still the same. (previous posts and journal entries).
We are in a correction of the larger EUR bull trend since 2001.
What looked like end of this correction low from 5 july @ 1.1862) is in fact just end of the first leg of this larger correction. If so, then 2 more legs are to follow (1 up and 1 down) of which the second is already in play with finished first leg up, second playing.
This second should find support arround 1.2/1.19 and third up to 1.26/27
Below 1.2000/1.1900 the bearish long term trend could start to unfold, and below 1.1750 we could have a reversal of trend confirmed.
Such a scenario is unlikely by my opinion, and in some of the post to follow I'll post few charts to explain.
I don't like to clatter this thread with my intraday comments, so I'm posting them in my Journal.
possible bullish development confirmation above 1.2525 (unlikely)
Short term below 1.2250/60 is the bearish territory
Medium term below 1.2353 and 1.2620 (bearish territory)
(intraday in my journal)
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