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Thursday, June 18, 2009

Morning Update Thursday

It appears that the market may break the bottom of the M30 Kumo. If so I'm thinking the top of the Kumo will be the peak of Minor B. Pivot Point R3 stands at 933 which agrees with Kumo.

Somewhere in the area of 930 - 50% retrace to 936 - 61.8% is my revised target.

The other possible count would agree with yesterdays target of 923. That scenario is shown below

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

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