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This phase of the USD rally up has now picked up and if all speculation are correct this should continue.
In particular the speculations that seems to be most accurate are the EURUSD and AUDUSD which patterns are most clear by all means of technical research and analysis While not as clear, there are GBPUSD and NZDUSD counts that suggest substantial losses going forward.
After hitting the highest record above 1.60, the EUR/USD has now fallen over 400 pips. The failure to extend and flow far beyond 1.60 should not be incredibly surprising if you have been following the Daily Fundamentals and graphs, as some which shows bullish behavior as it concern the EUR.
According to our Daily Technicals report, the EUR/USD is in the process of undergoing its 4th wave correction and support does not begin until 1.4667, long term investors should watch those fibo lines carefully.
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Posted on Apr-30-2008 by Barbara Rodriguez
