Wednesday, April 16, 2008

Euro target

The Euro has hit a symmetrical target going back to August 2007.Globetrader_22
The target remains nearly the same regardless wether I use the December, January or February lows in the Euro. The difference is in the predicted date, the Swinghigh is being made. As you can see using the January low, the high should be made near the end of April, while using the December low, the High should have been already made end of March.

So I expect a Top to be made today or in the coming days around that 1.59-1.5950 level in the futures, which actually is the 1.5950 to 1.60 FX cash level, a nice round number and target for a huge move started just 8 months ago.