Monday, November 2, 2009

Dollar Update

Hi traders, another update for dollar, going straight to the point the odds that dollar bottomed are very high. It break up the downtrend that came since june and now have a lot of space to go up, besides we had 5 waves up meaning its a impulsive movement.
Speaking in elliott waves i think dollar is one step ahead, dollar already finished wave 1 (spx its finishing), and i have 2 scenarios in the table, or it is in c wave of 2 , or already start wave 3 and new highs will come.
In the other picture we might have a inverted H&S, if it cames true spx can go very shorthly under 950.
Regards and good trades.