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Wednesday, June 24, 2009

Morning Update Wednesday

This morning the price overlapped the bottom of (wave 1). The prediction presented in this chart is looking less likely unless this turns into an extended third wave. We are currently at the Third Pivot Point Resistance R3. If there is not a reversal here I would have to say even that hope is lost.

It also appears that the trend line I had nearly given up on is still valid.

There is something new on my charts today. The red and blue moving averages are the Tenkan-sen and the Kijun-sen. I'm still working on the Kumo.

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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