Different Day - same scenario…..EUR/USD continues to slide and what a slide it really is! One thousand three hundred pips since May. What’s that the Equity boys say about selling in May??
The EURO roadshow shows no sign of reaching its destination and Support levels continue to be smashed. The latest, DCZ 1.2775 was treated like twigs on the floor of the forest. The Bears momentum must of course cease, or at least slow down, sometime soon. Do you want to guess that today is the day? No? – me either. With this and tomorrow, the last days of September and PA below MS-3, I can see a couple of quiet sessions ahead. That said, DP is untested to the North but with no sign of a speed bump, on the road South, I need a detour before entry.
The Day Ahead
I’m really thinking ‘spectator’ today but as always, the market can do strange things, if it warns me, I’m there.
|All Day||EUR||German Prelim CPI m/m|
Magic Monday everyone.