Thursday, October 29, 2009

Update on Yesterday's Counts

It seems that out of the EUR/USD, USD/CHF and USD Index the Euro has been the weakest. Currently my possible counts for the Swissy and USDX are still possible, as the price of Wave B has turned around at exactly the 1.618% Fib of Wave A. However the Euro has been a lot weaker and sliced convincingly through the trend line support, thus invalidating my count. Although I am still expecting a pullback (in line with the SPX) I would not suggest taking a position in the EUR/USD pair until the pattern is clearer.

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