The Dollar Index is headed for a test of resistance at 80* after respecting support at 76.50. The brief dip of 63-day Twiggs Momentum below zero also suggests a primary up-trend. In the long term, breakout above 80 would signal an advance to 85*.
* Target calculations: 77.5 + ( 77.5 – 75.0 ) = 80.0 and 80 + ( 80 – 75 ) = 85
Dear Colin,
the last vertical count on the spotprice (EUR/USD) 1.2750 and there are two more vertical counts in the smaller boxsize on the point and figure chart with 1.2500 and 1.2700 . So this is really a cluster because the three different counts suggested almost identical price targets. Also we have to consider that the positive saisonality on the euro is gone at the end of the year. So from a point and figure chart view i,m still bearish on the euro.
Hi Stefan, I am also bearish on the euro. Regards, Colin