Tuesday, October 20, 2009
The Ichimoku is still bullish, but a warning has developed with the price below the Tenkan-sen and the Kijun-sen which remain for the moment in a Bullish favor. This is a strong chart, and the price would have to dip below the Kumo for a Sell Signal.
I've changed my count to accommodate today's weakness. I believe we will rebound off the previous low near 1081 to complete wave 4. This is supported by the Ichimoku chart as well. The top of the Kumo is in a good place for the support we need to finish wave 5.
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 09:59