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楼主 |
发表于 2008-5-5 17:19
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I actually see a little more strength in EUR/GBP. I'm counting the rally that began at 0.7390 (27 Jan) as the final actionary wave. Within that wave sequence, wave three is extending. Waves i and ii of 3 were nearly equal at 176 and 177 points. Therefore, we should see wave 'v' of 3 extend, which it did. My target for that wav 'v' is the 161.8% fibo of the total distance of waves i thru iii, which is just around the corner at 0.8061. Once that happens I'm looking for some consolidation for a few days and then one final push higher.
The FED cut rates another 25bp today and JP Morgan is buying Bear Stearns for $2 a share in order to keep Bear from going under due to their losses in subprime nonsense. So here comes 'Credit Crisis; round two."Attached Images |
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