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.

Wednesday 1 May 2013

EURUSD & Dollar Index

Enough of a break. EURUSD moving into the 50%-61.8% retracement zone of the move down from the top. The 112 day cycle looks corrective at this stage compared to the prior wave down and the Momentum Cluster is in overbought. With the 14day cycle also looking toppy and the spike just, popping out of a diagonal, and with the Dollar Index 112day cycle still bullish (MyWave formed to upside despite price action and currently positive divergence on the moms) I am short here on EURUSD, looking for a retest of the lows. The next 14day cycle down should help clarify whether the pair is ready to fold.
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