Friday, June 11, 2010


Perhaps the Eur/Usd has completed wave C or wave 1 of C. It is out of the 5th wave channel. Look for a bounce.

Here's the bigger picture.

1 comment:

  1. Hi Grand, If this is a 5th wave extension, which is often the case in currencies, then we could see a zig zag rally back to 1.3700. A retrace after a 5th wave extension will usually rally back to the second wave. I think 1.3000 will be tough though and would be a neckline test of the head and shoulders pattern on the weekly chart.

    Keep up the good work.