Week Dec 6th - Classic bullish wedge, classic H&S formation or nice Elliot ABC correction down?....

...one bull vs two bears: But one bull in the direction of the trend. Weekly and monthly bearish candles still in play and zero volume last week, however, mkt easily held the 2.00 level.
Conclusion: i'm bearish, but probably a buy near 2.00 and a sell into the 2.13 area with a tight stop and possible new short near 2.20.  A definite sell beneath 198.65/35.

* Daily closing beneath 10 and 20 day MAs
* Further sell confirmation on daily Slow Stochastic
* UBS to liquidate 9,000 lots for index fund
* Brazilian farmers not likely to sell before next year due to tax incentives.


60 Min - possible bullish wedge, but I am still looking more at an elliot ABC correction down.

Key proprietary indicator - broke support (held for 8 weeks).

Euro/Daily - broke key support but found support at 1x1 multiple of first wave down.  Leave open this as corrective with invalidation given on a close above 134.47.  However, still held back by 10 and 20 MAs. Any indication that up trend has resumed will be bullish coffee.

Weekly - bearish shooting star and engulfing candles.  Last week was an indisde week. Slow Stochastic with bearish divergence.

d