Monday, June 7, 2010

Visit us at: NEoWave.com

Edited by Glenn Neely

President NEoWave, Inc.

EURO

Information contained herein is believed to be

reliable, but the publisher cannot be held liable
for errors or omissions. No specific advice can
be construed from the following. The reader is
solely responsible for all action taken.

Symbol EC or FXE

DAILY Plot (released mid-day on M-W-F)

HOURLY Trades (for Futures markets)

This morning, the Euro dropped to a
new low for the year. As long as the
Euro remains above wave-2s low a
Terminal could still be forming for
wave-4. The crucial ingredient missing
is a sizeable rally to confirm the worst
of wave-C is over. That will take a rally
larger than any since wave-B topped in
October of 2009. Stay Long.
Current STOP: 1.1750 Jun.
Current Risk: 2% (optional trade)
DAILY Trades (for Futures markets)
Based on structure, the only way the
Euro can drop this much, and still be in
wave-4, is if wave-C is experiencing
NEoWave Supplemental Price action.
That means downside is extremely
limited the rest of this week and that a
large rally must begin in the near
future. Therefore, lets go Long at-themarket (currently at 1.1965 Sep.) with a
stop at 1.1644. Risk 1% of capital.
Current STOP:
Current Risk:
WEEKLY Trades (for the FXE ETF)

Current EURO Positions

NEELY RIVER Trend

Hourly Optional Long @ 1.2245 Jun.

Futures Initial Stop, 1.1750 Jun. / Initial Risk, 2%

Hourly BULLISH
Futures Perspective may Change at 1.1750 Jun.

Daily
PENDING
Futures

Daily
BULLISH
Futures Perspective may Change at 1.1644 Jun.

Weekly
ETF

Weekly
ETF

BULLISH
Perspective may Change at 114.44 FXE

According to presented structure,

wave-4s low must remain above wave2s low. For that reason, the cash
market cannot drop below 1.160 at
anytime the rest of this year. If it does,
the count weve been depending on for
a long while will require substantial
revision. Until proven wrong, we must
assume a large rally is pending.
Current STOP:
Current Risk:

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