Thursday, May 21, 2009
Looks like we are right on track with wave C. The Elliott Wave is forming a beautiful wave and the Ichimoku is bearish with good cloud cover.
The EUR/USD is digesting is run and moving sideways. There appears to be a possible rally brewing off on the horizon, and I'm guessing that will coordinate with our last run up to 1015. My stop is at the bottom of 1 but I don't believe it will be hit.
A 38.2% retrace falls close to support, so hopefully Wave 4 will turn there.
Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.
Posted by Robert Campbell at 09:53