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Friday, July 31, 2009

USD Update

The rally portrayed here I thought it may had been the bottom already, but the fact that the small rally is coming down leaving 3 waves behind makes me think it hasn't bottomed yet.

From the look of it, it seems it's only wave 2 of 5 so we may have to endure a bit more on both EURUSD and S&P500

All relationships are in the graph, so the target is 74.47 on the index, which fits better, since all projections from the bigger degree waves AND the small degree waves point to that area...

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