Wednesday, 25 April 2012

EURUSD-DAX-S&P..... waiting for the FED-WAVE 2?

DAX as mentioned yesterday in twitter most probably finished 5 waves down. This is a bearish developement for the medium term. Short term targets are around 6800 up to 6950. Of course tonight we will be looking towards the other side of the Atlantic and the FED.
 EURUSD as mentioned yesterday holds support and has given me a slight bullish signal. As long as it holds above 1,31 and most important 1,30 it can start a big move upwards.
S&P again did not break support in order to accelerate towards 1340. This could be another smaller degree 1-2 wave, but I think the correction is more complicated and will try and break resistance at 1385 and try to recapture 1400. AAPL results yesterday have a positive impact in futures across all markets. However the last few sessions the market opens higher in premarket and the closes lower. I wil be waiting to see how it will react to FED tonight. This could give the market enough fuel to rise to 1400 or push it to new lows from early april.


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