Forex

You there? We sticking with the plan? Looking for your current insight. The parabolic move has to stop somewhere. Are we close?

It can get worse, and I hope we won't hit 1.6 already

As I stated earlier I don't have anything that says the EUR is coming down except a very high RSI and it has justed spiked to 1.5885 as I typed this so 1.6 is very possible.

Just shorted another 1 mil @ 1.5900

I have a complete 5 up on the 30 minute chart. Also, 5 up complete from the 1.5280 low completing the whole move. Also, classic throwover above channel resistance at approximately1.5830

Can the Eur go higher?

But, if it hasn't made the top here I would suggest that it is very very close. I see possible resistance also in gold at this level

But, being it's a game of probability it looks like this may be some kind of blowoff at least for a while.

Until there is some type of coordinated government intervention, there is no point in fighting the trend that the Euro is going higher and higher. It is inconceivable to me how the US government is debasing its currency and destroying the value of its citizens wealth.

If the market has topped and then the intervention comes it will be all the more potent. Instead of fighting the runaway market just kick it on the way down.

thanks for the question and kind words. Something very significant, or catastrophic, would have to transpire to change my position that the dollar is in for a large rally soon. The only question, or doubt, in my analysis is when. The dollar has fallen much further than I thought it would over the past week. I began shorting this pair at 1.5380 and have been selling small positions into the entire rally. Although I only have a position size 20% of the entire position I want to take on this upcoming dollar rally, I was obviously way too early. But that's what I get for not sticking to trading fundamentals and trying to pick the absolute top.

Outside of a catastrophe, I have to see the reversal occur and play out.

1.5980 is in the making as it seems.
1.5750-70 area if it even gets there good area to load up.

GL folks, always remember the trend is your friend but at those levels this friends can betray you or maybe not!