EURUSD: RSI Update - 1.3232 needs to hold!!!

EURUSD: RSI Update - 1.3232 needs to hold!!!

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Bob

The set up here is basically the same as what we looked at on the GBPUSD earlier today.  A pullback here that continues to close above the 1.3232 while the Relative Strength Index makes a new low down toward the 30 line would create a Positive Continuation Signal.  We would then have to wait for the trigger and possibly get long for a ride up to highs above the June 18th high around 1.3440.

A close below 1.3232 and the 1-2 Elliott Wave count I posted here would be my top count.

EURUSD 4 HR Relative Strength Index Chart