Monday 6 December 2010

€$ & USDX

OK, we have held on the black LMLP and are currently 79.53 ( 9.22 am Paris time) which means we are finally above/over the RL. We may now see price rally sharply or fall back to try again later this morning. This would be a possible long entry if you believe like me that the US$ is going higher long term. Last chance to get on board under 79.50 before the ship sails ? I think so.

Euro $ now has support from the long term reaction line that i was talking about on Friday
If it falls through this we could see price test 1.3300 level.

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