Apple seems to have made a short-term low (at least). If it can clear resistance at $438, I can see it going for $450, and also to close the price gap at $460.
EUR/USD has ralllied strongly since the low at 1,2750 one week ago. It still looks bullish. Next resistance is at 1,3170.
Pre-Market Thursday 3/28/13
EUR/USD is drifting lower and there’s no significant support before 1,2600-1,2660.
S&P 500 is consolidating at the highs. Looking for the index to break up from the consolidation and to continue the uptrend. Next target is 1,580.
3/23/13 Update: EUR/USD has now reached my target and last week’s panic low followed by a strong reversal is a nice buy setup. I believe last week’s low will hold and that the price will move up.
2/25/13 Update: EUR/USD continues to drift lower and is approaching my 1,2900 target.
The correction in EUR/USD is not over. My target is a 38,2-50% fibonacci retracement and the 1,2900 level.
This push over 1,500 followed by a bearish candlestick pattern and close below 1,500 could be the beginning of a pullback. If so, the target would be a 38,2-50% fibonacci retracement to reach the price gap at 1,425-1,435.
EUR/USD cleared resistance at 1,34 today, but with negative momentum divergence on the daily chart. Look for a retest of the break-out level at 1,34 in the next few days.