Monday 7 March 2011

EurUsd + USDX

This current price behavior is as I expected last week but i believe we are fast approaching the support level for the DX at 76 figure. I would expect at least one 'bounce' off one of the three major median lines shown in the E-Signal DX chart below ( even if we then go lower which I suspect we will sooner or later). I would not want to be short Euros yet but there will be opportunities soon and having missed a long entry this morning off the LMLP & it's too late now the euro is trading over 1.40 . The depth of any retracement will reveal more.


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