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EUR/USD - Is the top in place?

Posted on October 15, 2009 at 7:52 in Uncategorized by Pierre Charlebois

The blow off top on the EUR/USD was powerful however I would expect a stall around 1.4820.

There is a chance of one final push up however for today the down side is likely to continue after a retracement.

Any new highs should be sold.

3 Responses to “EUR/USD - Is the top in place?”

on 15 Oct 2009 at 8:23 am1j.j

Dear Pierre hi, regarding yr comment a bout a chance of final push up , so to what level going to be and is itgoing to make a top for reversaland ,thank you so much for all the good work.
regards
on 15 Oct 2009 at 9:03 am2Pierre Charlebois

Hi JJ

Reversaland… That’s funny.

I have to say at this point that I just don’t know. A more significant retracement has been overdue for some time and has not yet happened.

My longer term view is neutral.

My medium term view is a reasonable correction of 300 to 500 pips is due

My shorter term view is we are close to the temporary top however I’m waiting either for a final push up or a break of the lower trend lines.
on 15 Oct 2009 at 12:19 pm3A.SOLTANI

Dear Pierre

HI
about your EUR view,I think longterm target lies about 76%correction at 5170 that is synchron with wave structure.I dont think we have deep correction earlier to final push and w5 co-ordinate with oscilators is going up to complit.

REGARD

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