I believe that what we are seeing is the death throws of the Euro as it repeatedly tries to go higher and fails each time and tests support at 1.3300 which will give way anytime. I am eventually looking for EURUSD to get to 1.2975 and then i think it would be extremely dangerous to be short. My opinion ( and i am not an economist) is that once the Eurozone finally resolve their problems the Euro will be a zuber strong currency.....The deutsche mark of it's day, and remember this market will be so oversold that there will be blood when it finally turns! as the old London stock market saying goes those who pick bottoms get dirty fingers ...so i do not intend to do this but i can bet i will get in on the first retracement of the new trend and i will see and confirm visually which line it turns on. See the reaction lines in the 60 min E signal chart that are preventing price form rising above 1.34? What will happen is an orderly descent to the thick dark blue ML then volatility and wild price moves up before going lower.
No comments:
Post a Comment