Quote:
Originally Posted by leica
hi American T,
so you say it will go back to 1.44? Anytime soon? What about tomorrow Friday and next week?
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Time is the toughest indicator for me, but price is much clearer. The reversal should happen soon, perhaps within a week. Today and tomorrow could quite possibly see the euro extend its gains against the dollar, but the risk is outweighing the reward now so I've exited my long positions. Now I just have to wait to see what the market will tell me next. A reversal happening within a week is quite possible.
The USD rally against the EUR to the low-to-mid 1.4400s looks to be a fairly large wave 4 correction. Wave 4s tend to be fairly weak, somewhat consolidative, corrections. So this decline
may just be a gradual slow and choppy decline to the levels I just mentioned. If so, it will probably last weeks if not months and be bit of a psychologically challenging move because it may not be fast and fierce, but instead be real choppy and slow. This 4th wave has a high possibility of beginning very soon.
American-T
