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Wednesday, April 7, 2010


Price bounced precisely off the bottom channel, not the fork and formed a black candle stick today, creating a Bearish potential. If tomorrow closes below today's close (1189) a sell signal would be issued. Otherwise the Bulls remain in control.
Daily Chart - Price remains above the MOBO and the Ichimoku is Bullish with a Flat Tenkan-sen for support.
From the high today to the close looks like a 5-3-5 ZigZag. Possibly a 4th wave.

12:20 EST
I've noticed that many of the Blogs are standing back and watching, no longer eager to claim anything definite. The wind has been taken out of the Bears, and I believe even the Bulls are beginning to think this market may turn on a dime and bite them in the rear as they try to exit stage left.

I noticed a 7 on one of Kenny's charts. I'm not sure what that was about, but it made me laugh. Maybe he was making a joke of out of his count and this market that continues making new highs one wave after another.

11:17 EST
DDF bias is Neutral today

Hourly Chart
Ichimoku remains Bullish but Price has broken below the Tenkan-sen.
Momentum Oscillator has issued a sell signal
Weekly Chart
DPO has been showing weakness for the past three weeks.
Ichimoku remains Bullish

My prediction on Thursday

The open today.

These targets were calculated with Fibonacci ratios.

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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