Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Thursday, 7 March 2013

EURUSD: Bigger picture

As thought about first thing, a thrust up was going to accomplish a number of objectives: retake the daily DMA, the weekly trend line and the Speedline channel off 1.2041. The daily MACD averages will however still be crossed down, albeit the spread is closing. In addition, with all that work being underway, and the My-Wave from previous post looking so messy, me thinks there will be a great deal to be had if price can come back and test matters. Indeed, it is quite possible to count matters as an expanding flat wwth this being the 'c' wave up and maybe there is more downside to come. That is the point of a retracement of course, to help clarify. Time to breathe deeply and relax!
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