Tuesday, August 30, 2005
Here are updated daily and hourly charts of the September eurocurrency futures.
I still think that the market will rally to roughly 126.70. This is the top of the second rally box on the daily chart and just below the top of the current bear market box.
On the hourly chart you can see that the market has again hit the bottom of its current short term box and I think that it is now headed upward. The 125.70 level is the top of the next higher short term box and this seems like a reasonable short term target.