I know most will saying the fundamentals of the dollar says we are heading lower but technically in the charts it says the Dollar goes higher..
The Euro charts appears to validate my short-term dollar bearishness.
AB=CD at about 1.485, which would complete a nice flat. The minimum 5th wave target would be the 61.8% at about 1.49. It looks like when this structure completes its counter-trend rally then it will fail, which would confirm my dollar outlook.
For the near term though, it looks like this can be bought with a pull back if your aggressive. If conservative, wait for a break over point D.
Sunday, July 19, 2009
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