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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: zamboz who wrote (22831)	9/22/2009 9:39:24 AM
From: RockyBalboa	Respond to of 71456

While I agree, it is tough to read the chart. Breaks of 1.4770, 1.4720 and later somewhere at 1.4650 would lead the EUR to a correction path and make people rethink long positions. But so far, it is wavering but not correcting.

To: zamboz who wrote (22831)	9/23/2009 5:19:07 AM
From: RockyBalboa	Read Replies (2) \| Respond to of 71456

Some hours later... No decisive breakout, a gradual weakening of EUR crosses and the EUR could form some short term "iceland top" . An iceland top is a significant reversal formation after the fact. However, the situation remains vulnerable and any break of the top formation below 1.4770 would confirm a possible short term reversal of the most recent run. A run to the upside is still possible... but requires decent volume and movement from 1.4825 away. Strategy for the latest position: sell now, with a buy stop at 1.4830 and otherwise a profit target of 1.4660. A more safe way to play is to look for confirmation when selling leads it below 1.477