Thursday, June 4, 2009
The top chart shows Wave A as complete and Wave B in progress. This of course would become a 5-3-5 Zig Zag, and would likely test the lower trend line shown in the chart before heading up again
The bottom chart is the same chart I posted earlier today. I found myself focusing on just one scenario, and thought I should keep an open mind and make a bull and bear post, So here they are together.
As I mentioned earlier this morning the EUR/USD is going to influence the SP500. That market appears to be heading back up to the upper trend line. This may be exactly what we need to move forward to the finally. Reaching the upper trend line in the EUR/USD would coincide with the SP500 peak 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 08:01