euro $

Good morning

I present two charts of the euro $ above. The first is a daily view which shows a clear equidistant channel at work. The second shows the h4 view and presents a Elliott count of the impulsve wave which began last week. If my count is correct the Euro $ has a wave 5 of this impulsive wave to come fairly soon which would take the pair up to the resistance offered by the channel on the daily chart. This would be a move by the Euro $ from about 1.2550 to 1.2650. A very good way to start the trading week. Lets see what the market says at the London open.

I am trading all day at www.whichwaytoday.com but will post what I am doing at 800 GMT.

Good Trading

David