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Thursday, July 9, 2009

Morning Update Thursday

I've made a slight adjustment to the previous chart. I'm still looking for a target of 888 today, and then we should see an abrupt sell off. Breaking the bottom trend line of the Andrews' Pitchfork will give even more validity to the beginning of wave iii.

If this count is correct we should break Support 1 at 870.

We have been turned back at 870 twice before, so I would expect a lot of resistance there, but the Ichimoku charts don't show resistance until 860.



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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