EXECUTIVE SUMMARY
-- I am fairly bullish on the EUR/USD for the intermediate term:
i) Oversold Stochastic and RSI (M1)
ii) Hammer or High Wave Candle after a prolonged downtrend occurring at the 50% retracement level of the 2000-2008 rally (M1)
iii) The H&S Bottom pattern on the D1 and H4 Charts
iv) It also appears that Wave 3 is in progression with Wave 2 being a simple zig-zag (D1 and H4)
v) The overbought oscillators on both the D1 and H4 charts indicate a potential correction is on the cards vi) However, there is some strong support at 1.2444 and 1.2399.
vii) A bounce off of these levels should see EUR/USD propel towards the 1.3 mark
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