Thursday, May 28, 2009
There is no doubt that the EUR/USD are still hand in hand. Last Friday I said the Euro would pull back to 1.3800. 1.3790 was the exact bottom for a perfect 38% retrace.
The channel appears to be holding. One scenario is that the SPX goes along for another Bull ride as the Euro heads for it's next resistance at 1.4365.
Below is the same Bull and Bear predictions I've shown since Tuesday. Except for the Euro looking Bullish there is no clear indication which scenario will prevail.
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 06:36