Wednesday, June 10, 2009

EU Weekly Levels

Constrast with GU, EU is less decisively long although still trending in its own stop start manner. The most noticeable fact that eventhough we went below the MA's and the stop bands, the MACD never crossed down into sell territory.

Signifigant levels this year have been 1.3823 which we have already tested this month. Above we have 1.4362 which everyone has their eye on. Below, which is where I am biased for us to head is 1.3312. Fantasy target is 1.3027. If we can get there and I am still short, it really would be a fantasy come true.

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