The euro $ is charting out a wave 5 of a wave 1, of a wave C as reported yesterday. I feel that we are just about finished with wave 1 down. It is clear that w5 of w1 is a falling wedge which is a bullish formation. The market will probably be volatile tomorrow as it changes direction and the Euro $ gets stronger over the next few days.
I forecast a stronger Euro over the next week prior to a wave 3 of C starting. Gold and commodity shares should bounce and wide awake traders should be looking for signals from price action to get aboard. The carry trade operators will asume that the dollar strength was just a ripple and not the trend change that it is and the carry will accelerate. This should help those holding long positions over the next week . This is a trade for the fleet of foot.
Have a good evening all.
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