Forex

If it fails to match the former high at 1.59 that can be significant for at least the short term, I vouch for a range to hold with perhaps large swings, the techies could probably tell us where the parameters could be...

look at YEN cross, specifically eur/yen for early warning. Usually more volatile and quicker on the move.

stopped out, going LONG @5808, stop 5785

I would scrap that long but it's just me, LOL....

We are making a complete reversal from the 1st top. We are just rounding the top of the second off a 60min. Look how the pattern is identical up as the last top was down! Same down stroke price as up stroke on the second run up! The direction of the EUR has always been tricky as mentioned. it usually does the opposite most think off the charts. This is well documented from the first week of the EUR. There has been lots of times when 80% said its time to short and 20% went long. Get the picture. This is a 80/20 making it pair. With the US now saying that this crisses is more than a ressesion almost to a complete breakdown of an econamy there should be no way the eur should go down against the fragile dollar. Haveing said that it will probably go down? its anyones GUESS at this point. With oil at 106 the strain on the dollar will be great unless oil goes down.

I know nothing and have no opinion, I do what the market tells me to do. that's just me.

All the best

May be thats the right thing to do

the market is huge ocean, and I am standing on the beach. I can't make the waves stop from coming in, yelling at it, hoping and willing it is useless. Waves will come when it will come, if I do not want to get wet I need to move away from the shore. that is the only way to stay dry.

Very interesting! EUR/JPY is bouncing but EUR/USD is not, still USD/JPY is not showing much strength.

your watching close arnt you! The separation started the same way last night just before the EUR poped! If you run a commodity channel on your chart CCI youll see that the JPY moves quiker during the tokyo open. the EUR will start to pick up the pace when london opens in an hour. As the tokyo gets closer to closeing the EUR realy starts to take off one way or the other. I feel [JUST ME} that tonight the EUR will see 1.59. Asia has a very large export so the movment and pricing saves them mony when shipping to the USA if the dollar is up a bit more on multi million dollar deals during this session. The lower intrest rate USD helps to if borrowing money to finance these deals. A more fundemental play if your interested is the AUD/USD. nice slow even up. They have oil,gold and other minerals that are all up right now so very strong. Asia is there #1 importer of steel and these minerals. Japan to be spacific. As long as oil stays above 103 its a safer play for now. The EUR is as volitile as it gets. Thats good and bad depending on what side your on. If you look at a 60min chart of the eur/usd full screen youll see a patern of the double top. If you think we are following that patern to a tee then it would sujest that tomorrow night will be a high and end to this trend. Look closly at the times and the moves on both tops in beteen the tops inpaticular. very interesting. We will see if we break that patern tonight. It would sugest that we are going lower in a horse shoe then tomorrow a rally to 1.59. Just have to wait and see. It may be worth just waiting for this one to play out to the top before geting in seeing if theres a reversal. I may just put a small long with a 1.5880 limit and a tight stop just in case?