EURUSD May Dip to 1.4200

Published August 25th, 2009 - 12:40 GMT
Al Bawaba
Al Bawaba

A clean 5 wave rally is evident from 1.4044.  While this suggests that the larger degree EURUSD rally is not yet complete, a correction of the impulsive rally is expected.  The 50% to 61.8% retracement zone is 1.4172-1.4212.  1.4200 is also the former 4th wave extreme.