moolamanic's - fear phase - wednesday, page-30

Hi mihal, to me it looks like the 50% fib extension is a definite target on the usd. (approx $80.75). It is playing out that way and has now also backtested the 38.2% successfully tells me this may be a temp pause (last night). As the chart caption mentions (which only some can see it seems) the blue ascending also needs a backtest imo so not sure which will happen first but that massive rally in the last hour on the djia can't be ignored so we wait & see if the momentum follows through or whether it was just euphoria gaining momentum as the price hit the double fib line at around 10400.

Double fib = 38.2% gfc retrace (Mar09 low to May 2011 high)

& 76.4% (July 2010 lows to May 2011 high).