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USD Index shows evidence of a larger turn

Posted on October 29, 2009 at 3:22 in Uncategorized by Pierre Charlebois

Here’s a view of the USD Index on a 4 hour chart. The break is very impulsive looking and should top out in a nice 5 wave pattern. (and I think it’s not quite done yet)

Then the form of the pull-back would idealy be in 3 waves and then a launch back into 5 waves up.

The most likely in the short term is a wave 4 and 5 over the next two days. This equates to the same on the EUR/USD only reversed.

3 Responses to “USD Index shows evidence of a larger turn”

on 29 Oct 2009 at 8:30 am1j.j

Dear Pierre hi, pls would you give more detail about the Euro/$ move.

regards
on 29 Oct 2009 at 11:47 am2Pierre Charlebois

Hey JJ.

I expect a retracement into Fibonacci resistance and then a renewed drop.

Of course any new highs and I would expect a failure and drop from there are well.

I’ll post something shortly
on 29 Oct 2009 at 1:33 pm3j.j

thank you so much waiting for update post,wish you all the best.

regards

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