Thursday, April 27, 2006

Euro USdollar

Here is a daily chart of the cash Euro-US dollar pair. I last commented on this market here.

The market has reached my 125.20 target in the third phase of a clearly defined three phase correction that started from the 116.40 level. The last important top (black line) at 125.88 made last September 1 is nearby too. I think the next big move in this market will be downward to well below the 116 level.

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