EURUSD update on another pespective 291112

We can take a look at the Dollar index while playing main currency pair that is tied to the USD, namely swiss franc, yen,eur etc.....On that note i will share with you people what i saw from the dollar index.

look at the right hand side of the chart where I named a 5 wave down from 1-A ,2-A and so on..each of the wave coincide nicely to the retracement or extension of each wave count. Thus, we can see that now we are moving into wave 5-A which we might see target of this wave 5 reaching 7972 which is the 1.618 extension of wave 4. But, we can also see a truncation happening, if the dollar index were to rebound from the 8007 price point (end point of wave 3). These are the two scenerios that might happen. Of coz a drop to 7972 will see eurusd pair rally further up above 1.30 as of now, or if 8007 holds, we will see 1.30 region being acting as a resistance again for the eurusd pair.. You can pull out any chart related to dollar index and label the wave count,if it go inline with what you seen on the dollar index chart..it might be a good signal for short/long.
.once again happy trading ;)