EUR

Sub, my thoughts are much more simple than yours: sell USD against anything you can come up with. :)

But seriously: Right now we're back at last week's close. All the news during the weekend are over and done with. In my view risk is back on - with a vengeance. (AUD is a very good indicator now.) When I see a market so uni-directional I expect it to go a lot further. (Uni-directional as in looking at the hourlies there's no retrace - not a single entry point. Not even after-hours.) So I expect 4485 to be taken out (as per my Monday swing) and trying to trail it from there. Gotta admit late Monday I was on the verge of swearing off swing trading for life after the initial mucking around. Simultaneously, DX is at the bottom again while e/u is not at the top, so the euro might need to catch up with that.

mach....

for me.... the initial rejection from 4500 level indicates that rally from 3428 has ended and it has 1 more leg down for correction(assuming it's only a simple correction.... ).. only break into new highs will prove to be wrong view...

and even from EW perspective(not that i really follow).....

wave I = 2873~3861
wave II = 3861~3428
wave III = 3428~4520
wave IV = still in progress unless breaks above 4520...

simple wave IV woud likely target 4050/4100 with possible extension down to 3900/50.... but break lower below 3850 would mean more complex move with further and prolonged consolidation....

in the bigger picture.... as long as 2873 holds.... it will be moving higher to challenge 5144 main resistance.... if successful to take it out... will see new highs.... but break back below 2873 would mean failure and resumption of downtrend and see new lows below 1876...

would like to hear your thoughts and view.... :)

short 4425....

currently holding shorts @ 4310 and 4425.... tp 4100

looks like Euro still has a little more room to the upside.... to 4430/50....
8 hour close below 4350 could already signal it's headed down....

only daily close above 4460 would be a warning signal for shorts...

looking to sell around 4430/50 area for 4080/4100...

gl/gt

It hit 61.8% level at 4370. I cashed in there for intra day trade. Gotta hit the sack. GN all.