USD vs EUD

I came across a thread at CNA forum today. The thread started commented that EUD fluctuation against USD was big. I have no idea about the head and tail of what he is talking about. Somehow those forumers on stock market really should put in the effort and write more words. Instead most of them just put a smiley face. Anyway, the thread raised enough interest in me to take a look, afterall, I did write about EUD vs SGD earlier.


Fig 1 EUD vs USD Weekly Chart

Okay, first of all, the fig only shows data of up till 1st March 2010, for 2nd March 2010, it would only be ready by tomorrow. Base on what I see, it is in its C wave. However, I guess it has not yet completed, still lacking a 4th and 5th of C.

As a whole, it could be forming a huge triangle with its next low touching at 12,905 (USD1.2905 per EUD). This coincide with the retracement back to its 23.6% area. At present, it should be doing some rebounding because I think it is right time to do the 4th, probably this is what the Hoohah about on the thread.