After reaching 94.25 the USD has weakened slightly and we have a perfect Fib 61.8% RT bang on the bottom of the 5 min Bolly-band. The stochastic's look perfect for another upwards effort but it remains to be seen if we can take out the previous highs of 94.33 and 94.29. The inability of price to take out the former 94.33 on Monday led to a small double top at that level and a big sell off back to 92.80 but price just keeps coming back up and hammering away at this levels/lines....I have no doubt in my mind that we will take this out but it maybe left until a crazy Friday if price looses momentum & energy at these levels. If we fail to take out at the least 94.30 today we may see prices drift lower which will put my long position at 94.00 in jeopardy but i have a B/E stop and may re-enter lower. My objective for this trade is the green centre line (below) at around 94.80 butbefore the reaction line (top right diagonal in dull red) which as you can see below have a profound influence on price.
Here's a recent Euro$ chart......
11.47pm................. stopped ot at B/E,....alot effort for no gain BUT also no loss!.. I am looking to go long but not until tom/morn and am looking at the CL at 98.85 level but am off to bed so will wait and see what i wake up to.
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