The markets can handle some uncertainty, but the lead-up to the Fed’s eventual announcement on tapering may be stressing the system
Sunday, July 29, 2007
EU - Approaching a bottom, HIGHER
There is still the potential for a final dip toward the measured objective at 1.3600. With three waves down from 1.3853 to prior fourth wave support in the 1.3600 area I view recent weakness, regardless of how emotional it has been, as a correction. That means a rally to a new high is more than possible. A rally much above 1.3700 would bolster that outcome and a push above 1.3770 would confirm it.
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