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.
Posted by Robert Campbell at 10:38