Sunday, June 3, 2012

The first impulse - update


The 4th correctional wave was a bit higher than initially excpected, giving more room for 5th to go.
So, I expect the current 3d to complete this Monday morning (East Coast time zone). The 4th may be a strong one, leading to the formation of expanded triangle.


As for the EURUSD, things seem to be a bit in advance to the stock market. A strong reaction to NFP figures means the 4th wave is in the making and should complete under 1.25 on Monday: