Just to let you know that the EURO will remain under pressure till its medium-term objective near 1.25 is met. Until we get there, it will be easier and more profitable to trade from the short side. When we reach a low-risk sell level, I will inform you through these pages. Spend a few minutes studying this chart and see if you can spot a familiar pattern. EUR/USD Euro chart Ramki
Back on 21st September it looked highly improbable that we will get down to 11950. But we have just reached that level. So naturally we wish to know whether the market will turn around here and head back to 14,200. kwse-21-sep-08
On balance, I think the chances of going back to 14,200 are much higher than dropping directly to 9000. However, if one is seeking to BUY some good stocks, perhaps it will be a good idea to wait for a bottom to be posted, and buy on the way up. The next good support comes at 11620, and that is not a bad level to foray into the market.
Just to let you know that the EURO will remain under pressure till its medium-term objective near 1.25 is met. Until we get there, it will be easier and more profitable to trade from the short side. When we reach a low-risk sell level, I will inform you through these pages. Spend a few minutes studying this chart and see if you can spot a familiar pattern. Corrected version Ramki (P.S. In my haste, I placed the prior top at the wrong place earlier. This is corrected now)
Think the USD/YEN is toppy between here 103.65 and 103.90 and should come off to 102.45 later on.
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