Quote:
Originally Posted by Khan
The thrust thru 1.5625 occuring now, and if i am right this complete 5 of 5 of 5 impulses.
I do not think it should extend given the current momentum situation and RSI is 85+ on daily this is unrealistic.
They just need a simple reason to liquidate eur longs, and this reason may be today's CPI. Watch dollar will react to any type of positive data sharply cause I think " The rally is overdone, traders are over-reacting and selling more than what should be priced in already "
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Khan,for now your prediction works out fine. We saw 1,5650, what could have been a (temporary) top. Right now its 1,5580, so there are some folks that can take some 50 to 70 pips profit here. Depending on your trading horizon ofcourse....
Any idea what level needs to break for the move down to gain momentum?
Today can be volatile. Friday, G7 nerves, CPI. Take care and good luck.