Wednesday, July 15, 2009
I get the feeling I my be the last Bear standing.
The EUR/USD chart above appears to be creating a triangle. The next wave down would be wave E which has the potential to end at around 1.3900. That is lower than where it was yesterday. It's too early to tell but there are some small indications of a reversal right on the top line of the triangle. We will have to watch this over night, but if this is the case I believe the stock market will give up all of the gains made over the past two days.
Please see the other posts I made over the coarse of the day. Sorry I have to go to work, but I may have more to say later tonight.
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 13:26