Friday, December 19, 2008

Euro Chart with Potential Supports



the horizontal lines are potential support levels based on Padovan ratios. they should come in handy as long as we recognize that they are only guidelines.

roughly, I'd guess that the rate will get taken down to around 1.34 or maybe lower to the 1.29 area over the next month or so before rebounding back up to perhaps 1.40ish. but after that -- look out below.

just a guess. I'm sure something will come along to change it. the markets rarely play out the way I imagine them, but being imaginative is the most important part of the forecasting process.