Saturday, May 26, 2012

The first impulse

The picture in the markets seems to get clearer.
In my opinion, next week we're going to finish the first bear impulse for the DOW. The currencies also seem to start looking to stabilize before the correction of the downtrend will start.

Among all indexes, The Dow has the clearest picture:


And as for currencies, I expect euro to over perform the commodities dollars (AUD, NZD, CAD)  before the bottom of this impulse (in DOW) is reached. The base for EURUSD will be probably built over 1.24 level:


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