Friday, August 7, 2009

Euro Count Complete.

Since holding support at 1.4007 the Euro has had a 5 wave count up with repeated divergence on the hourly RSI. (Note the expanding triangle in the -4- position followed by a truncated -5-.)
Of interest is the possibility that this 5 wave move up completed 5 waves of greater degree, up from 1.2457, for a completed C wave. At the high 1.4449, C= .85 of A, and that may well complete the Euro move.
Of course overlapping 1.4007 will confirm it, but taking out the 50% retrace at 1.4207 (also the 4) will be an early tell.

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