Thursday, April 16, 2015
Looks like I was too early on the calling an end to the euro's correction so I had to relabel my wave count. The rally is in choppy overlapping waves so I have little doubt this is a correction. There is a confluence of resistance from the 61% Fibonacci level and the hasty channel I drew at 1.0837 that should cap the rally. We might get some volatility tomorrow morning with CPI data coming out, so a nice shot higher and reversal lower would be a good sign a top is in.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.