EUR/USD – Where to from here?

by | Jul 30, 2013

There are currently 2 competing alternatives for the EUR/USD here... 1 - The high is in for the Euro and this impulsive decline from the high was wave (i) down (black count bearish) - Euro reversed from our target sell zone - GBP/USD has already broken down below trendline support 2 - This impulsive decline […]

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Added to short EUR/USD @ 1.3275 (SL @ 1.3298) – Stopped out (-22 pips)

by | Jul 30, 2013

This is how I am counting the short term chart...   Well, that didn't work out. Big stop run in the Euro took me out of the trade. New highs for this rally. I will await another 5 waves down to identify another entry point. A decline below today's low of 1.3239 should lead the […]

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Market Update: July 30th, 2013 – No change

by | Jul 30, 2013

SPX had an inside range day, consolidating Friday's advance from the lows. While the generals (SPX/DJIA) are leading this final advance higher, it looks like the troops (RUT/DJT/BKX) are reluctant to follow. When the markets are fragmented like this, it pays to look for exhaustion and a fast reversal lower. With liquidity running out on […]

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