EUR/USD - Has tested my first target at 137.46 (actually it has been 1 pip higher at 137.47). I do think that it is enough correction to relieve the short term oversold issue and turn EUR/USD down again towards the support near 133.65.The longer term target is still unchanged at below 123.28.
Support is still holding firm at the 1,796 area and as long as it's not broken we must accept further consolidation. I still think we will ultimately see a break below 1,796 for a decline to 1,660 area.
Crude Oil - We saw a very smal break above 90.22, which has forced be to change my short term count very slightly. Instead of a top at 90.22 we most likely have seen the top today at 90.45 and should soon see a decline below 87.35 and more importantly below 86.85 confirming the next leg lower towards the 72 area.
No comments:
Post a Comment