Monday, December 8, 2008
12/8 - WAVE B COMPLETED
USDX: Wave B is now complete. Below 85.00 confirms the A-B-C Correction pattern and targets 84.00 (equality projection). This also will highlight a Head & Shoulders top, if completed suggests significant weakness ahead. Clearing the trendline connecting the Nov 21st & Dec 4th could trigger a fresh phase of strength towards the 92 handle (long-term pivot).
Strategy Summary: LONG EUR/USD from 1.2607 FOR 1.3112 (1st TARGET), STOP AT 1.2707
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