The EURO

It's going down baby! I said this from the start...

It might head up at the start of next week, but after that, its going to hell.

Have a good weekend everyone.
-Kastro
 
Looking to buy tomorrow. I think we will see a nice jump up, then who knows?. Probably start trading in a range for couple days, then drop again.
 
Heh...no problem. I just thought you were serious.

As for the next week, it's Fed week. Traditionally you see a EUR downmove until the storm passes. Be careful of initiating longs until this market settles.

There are plenty of cross pairs to play on a technical nature without the risk of the USD.
 
However, generally a triple bearish divergence creates the best opportunities for extended downtrend. Triple divergence at 122.91
 
Although I am having some fun with my prediction of Euro to 1.000, I certainly don't think we will see it next week.

However, I am targeting 1.1000 as the next stop and then finally onto parity at 1.0000.


Quote from Ivanovich:

Heh...no problem. I just thought you were serious.

As for the next week, it's Fed week. Traditionally you see a EUR downmove until the storm passes. Be careful of initiating longs until this market settles.

There are plenty of cross pairs to play on a technical nature without the risk of the USD.
More...
 
That is a nasty triple bearish divergence on the dailys. Not to mention the H&S formation on the weekly. I am not just looking for a good opportunity to go short before the bottom drops out of it. There was such a huge drop friday I hate to short after a day like that. Maybe we will consolidate for a few days then the down move will continue.

Regards
Steve
 
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