Euro Bund: Downward Correction Is Incomplete
Euro Bund: Downward Correction Incomplete
Aug 14 2012
We can see that on German bund recovery from 142.13 was corrective; clearly only in three waves. So, if that was a minor contra-trend movement, labeled as wave b, then we know that downtrend on German bund is incomplete. As such, new fall below 142.13 should be seen this week, into wave c, possibly towards 141.00. This fall will then cause more buying on EURUSD. Please check yesterdays video (members only) and Alternate analysis on EURUSD.
So based on current developments its still too soon to look for any EURUSD short opportunities, but that should change once correction on the chart below show us evidences of a bottom.
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