Thursday, 24 May 2012

Euro - slipping to 1.24, and eventually 1.20

The Euro/Dollar closed at 1.2592. The next key level on the weekly cycle is 1.2400

Euro, daily

Euro, weekly


I would assume Euro 1.24 could be equating to sp'1280 - which remains the main bearish target, assuming the down channel 'holds' and continues tomorrow.

Euro/$ 1.20 - the primary target for early summer, would probably equate to sp'1200/1150. That would match up with the weekly and monthly index cycle charts.
It was a rough Wednesday for me..Thursday can't be any worse.