Wednesday, December 9, 2009

By User: EUR 60 mins

Posted By Akshay Chinchalkar

Posted By Akshay Chinchalkar

Message: The EUR has fallen in a clear 5 wave pattern since its recent top at 1.5141, which i have labelled as wave (1) down of the next leg down. Need more evidence that the top at 1.5141 was indeed circled 2, so wouldn't want to go all out short. From today's low at 1.4668, a rally to the termination of the 4th wave triangle at 1.4863, or possibly the 50% retracement at 1.4906 could be seen provided 1.4668 holds for now. Only the markets will tell if uncle sam is back! Good luck to everyone.


Vijay Sharan said...

hi Akshay,

Your setup looks fine..

Thanks for posting..