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Wednesday, July 15, 2009

Am I the last bear standing?

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.

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