What is the Euro Doing?
Last Updated on Tuesday, 6 July 2010 10:09
Written by admin
Saturday, 14 November 2009 02:15
Written by admin
Saturday, 14 November 2009 02:15
June 23, 2010
Since the 1875 low on June 7, a turn date called out on this site, the EURUSD gained 600 pips to 2466 where it fell today to 2204.
The move from 1875 can be counted as a double zigzag wave (A) and today’s low is then a wave (B) and on the chart you can see a channel forming where wave (B) found support on the channel support line.
This channel has the potential to carry price all the way to 27600 where wave (C) = Wave (A). That would happen on July 4, which is a Sunday, but more importantly, the next turn day for this pair could be on July 6, which would be the first trading day after the July 5th observance holiday for Independence Day. 2760 is also a major Gann resistance area.
