Thursday, March 4, 2010

Euro Update

click to enlarge
If you were hoping that the move up off the lows in this chart was the beginning of either a reversal or a correction of substance, rather than the end of a correction up as labeled, the.618 retrace needs to hold.
Yes perhaps it'll be the .76/.78 but the .618 is the biggy.
Besides the 1.3434/1.3443 support has been in place since 2/18, and taking that out ought to put the 1.34 Fib .618 retrace of the whole B wave up, under some serious pressure. Got to test that.

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