Wednesday, March 31, 2010

Ending Diagonal Speculation...

Taking a bit of time to indulge in future speculation surrounding how the market may fulfill the EUR/USD Long Term View Target from current levels.

The blue trend channel lines are distinct possibilities. Two touch points on the upper and lower channels so far (see analysis of triad indicators supplementing Elliott Wave), and an Elliott count that so far, counts best as 3 waves down to new lows (see 3/30/10 EUR/USD Elliott Wave count). This opens the door for a slop change and an ending diagonal for wave 5.

What do you think?
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