Monday, August 31, 2009

still no decision...

The EUR/USD is still trading in a narrow range (like the SPX) and is forming a rising wedge. A break below the support line would very likely confirm the bearish scenario.

Primary Count: At the beginning of [iii] of 1.
Alternative Count: In iii of (iii) of ?; A break above the high at 1.4446 would confirm this scenario. The top for Primary [2]/[B] would be delayed by some weeks.