According to Matt & Steve's great newsletters, the dollar
reached it's profit target at just over 87 1/2 cents on 5/19-last
Wed., and then pulled back 2 cents through Friday. It gapped
up between Fri. close and Sun. night's open and rallied to around
86.6 cents, is still in that area, although it is bouncing back and
forth on the short term charts, the RSI is weakening on each
ensuing bounce on the 15, 30 and 60 min. charts. so I expect it to
go back to the pullback started last week soon, and this seems to
be just a wave 2 on a daily chart. If so, when wave 3 down
begins, it should be good for the EUR/USD, commodities, and the
market, even if it's just a several day or couple week bounce.
Any thoughts, Matt, Steve, puma?
Sonia - as I state in the Dollar, the highs last week on that
chart appear to be some kind of wave iii instead of a wave v of 5
because of the strength of the MACD, that's why I would not be
surprised to see the Dollar still make one more attempt at a new
high
The dollar
Posted by sonia on 24th of May 2010 at 10:11 am
According to Matt & Steve's great newsletters, the dollar reached it's profit target at just over 87 1/2 cents on 5/19-last Wed., and then pulled back 2 cents through Friday. It gapped up between Fri. close and Sun. night's open and rallied to around 86.6 cents, is still in that area, although it is bouncing back and forth on the short term charts, the RSI is weakening on each ensuing bounce on the 15, 30 and 60 min. charts. so I expect it to go back to the pullback started last week soon, and this seems to be just a wave 2 on a daily chart. If so, when wave 3 down begins, it should be good for the EUR/USD, commodities, and the market, even if it's just a several day or couple week bounce. Any thoughts, Matt, Steve, puma?
Sonia - as I state
Posted by matt on 24th of May 2010 at 10:43 am
Sonia - as I state in the Dollar, the highs last week on that chart appear to be some kind of wave iii instead of a wave v of 5 because of the strength of the MACD, that's why I would not be surprised to see the Dollar still make one more attempt at a new high
Sonia ..some Ewavers have USD going far higher than Matt and Steve's predictions
Posted by hurricanemalta on 24th of May 2010 at 10:54 am