Friday, April 07, 2006

Euro USD

Here is a 5 minute bar chart of cash trading in the cash EURO USD pair since yesterday's high at 123.31.

I think the market is about to complete a three phase decline at the 121.00 level. From there I think a three phase rally up to 122.10 is a reasonable expectation. I think it likely that the move to 122.10 will eventually continue up to 125.00.

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