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Strategies & Market Trends : John Pitera's Market Laboratory

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Hawkmoon

sixty2nds

To: John Pitera who wrote (18604)

1/20/2017 3:52:28 PM

From: John Pitera

2 Recommendations Read Replies (2) of 33421

USD update: In terms of the USD 2 tops were at 100.71 and 100.60.... so we will close a little north of support , and watch to see what happens when Australia opens on Sunday and see how trading goes in Asia and Europe.

Palladium which is a very thin market had a ridiculous up 5% day and platinum is up 2.53%..... but that is very thin and so neither means much.

Silver and gold futures look like they are going to end up 55% or so.

The big story is EUR/USD since it's something like a 34% weighting of the USD index.... The EUR is coming into resistance as it approaches 1.08

Look at this 3 year chart of EUR/USD and tell me how it makes you feel? comments welcome on this chart.... the EUR might make it up to that descending downtrendline and 200 dma at 1.10..... maybe.... overall the EUR chart appears vulnerable... the comments in red on the chart were written a couple of weeks ago. On a short term trading basis I am totally square the currencies at the moment.

I closed out a long GBP position and my stops got me out of the yen and AUD..

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