Monday, July 28, 2008

Euro Rebounds As Safe Haven Bid Returns - Will US Data Disappoint?

EURUSD stabilized and regained its footing in early European trade retaking the 1.5700 level after falling sharply yesterday. Yesterdays horrid IFO results drove the pair to within 20 points of the 1.5600 figure in late North American trade, but the overnight weakness in global equities and rumors of central bank...

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The Buck Does NOT Stop Here

We turned bearish at 1.57 yesterday, mentioning that the drop from 1.5944 was awfully deep for a correction. Although 1.5611 has been the bullish line in the sand, the alternate count treated the advance from 1.5283 as a B wave flat and the drop from 1.6039 is wave C of...

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