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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
if not expecting 1 more dip to 2870/90 b4 move higher toward 36xx level....
8 hour close above 3180 or clear break above 3200 could see extension higher to 3250/70 level....
break below 3100 suggests immediate top is made and will see pullback to 3025/45 at least or next leg lower to 2900 level.....
gl/gt
"There is talk now of sovereign selling interest just above the NY highs of $1.3159 and
further offers layered up to $1.3200.."
pretty much agree with subz here.. only difference.. trading it vs. watching it..:-)
anyway here is my big picture blah:-)..
tech - 50.0% fib of 2624 to 3322 swing has supported.. and aussie confirmed with close above 1.07 and dxy rejected 80..
fundi- now ECB is to swap junk for more junk.. this can work for a while as Milken has shown:-)
and finally Stolper has capitulated on his euro long!..
so all in all higher for now..
back below 3100 would shift focus to 3040 initial support... and clear break would signal resumption of downtrend to 2870/90 support...
if 3040 holds may see jump to 3180/3200 b4 moving lower again....
in any case(less likely but possible) it continues higher and breaks above 3322... it will open up 3650/70 level.... :)
In the bigger picture.... as long as 2850 holds... may see test of 36xx level b4 moving lower....
gl/gt