Monday, 12 December 2011

European indices stopped at 50% retracement.

European indices reached 50% retracement last week and the decline still looks corrective. If the correction ended then today's pullback might be a minor wave 2.

Although the markets look like they are topping, the decline is still far from impulsive. 
Eurusd as stated earlier in the morning looks it? 1,3140 and 1,32 might be last line of defense for the bulls. If broken things might get very ugly for the european markets.

No comments:

Post a Comment