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Thursday, July 21, 2011

Euro: False breakout, DJI: Entering 5th Wave

Euro Weekly Chart

Euro failed close below 1.4102, patterning tail, indicates false breakout?? As we could see Euro climbed more than 1 percent against the U.S. dollar on Thursday  after a survey showed a rebound in factory activity in the U.S. Mid Atlantic. We still have a resistance to 1.4530-1.4555

Euro gagal ditutup di bawah 1,4102, hanya membentuk tail, mengindikasikan pola break yang gagal?. Pada hari Kamis ini Euro menguat lebih dari 1 % terhadap USD, setelah data survei yang bagus pada aktivitas pabrik di Atlantik tengah. Kita masih punya resistance (tahanan atas) di 1,4530- 1,4555. 

Dow Jones Daily Chart
It seems DJI is patterning 5th wave, Double Top or break Hi 12875 (May 2011)?

Sepertinya setelah membentuk wave 4 (Elliot Wave Theory) Dow Jones memulai wave ke-5 nya. Pertanyaannya akankah Dow membentuk wave ke 5 menembus Hi 12875 atau hanya membentuk pola Double Top?.

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