Blog Archive

Friday, June 5, 2009

I've been experimenting with using trend lines to time the market reversals. I saw this and wanted to present it. It will be interesting to see if it has any merit. My back testing has shown that it can be useful.

It's 13:50 at the NYSE right now and the EUR/USD appears to be starting to rally from a bottom trendline and Fibonacci point. If it takes off it will be interesting to see how it affects the SPX. The EUR/USD broke the bottom of a longer term trend line this morning. It appears that save for a small rally right now the dollar may reverse and gain strength. This would have a bearish pull on the SPX as well.

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

1 comment:

  1. Right after posting this message the EUR/USD rally failed and took the SPX down. That is working perfectly with the fourth wave correction. I have faith that the dollar will hold and bounce off the 1.3950 area. This is a strong Fibonacci area.


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