Monday, November 9, 2009

EUR and Pound climbing this morning

Like ponies out of the gate at their first race, the pound and Euro are both charging ahead this morning with steep, upward climbs on the shorter term charts that seem unsustainable. But what seems to be, doesn't matter. Price action is reality.

As I posted Friday, if Euro climbs above 1.5060--ideally more than just a peek above it but a close of some sort--then the Elliott Wave (EW) analysis I posted on Friday is invalid. This happens with EW (or with any technical analysis approach). I'm watching both Euro and the pound closesly and will post more later.

No comments:

Post a Comment