The EURO vs Dollar looks to be setup for a major move after consolidating for a number of weeks.
Even though it's probably more prudent to wait, i'm leaning towards more weakness in the Euro. My hunch is tomorrow after the FOMC announcement, the dollar will "FIRM UP" pretty dramatically. This coincidentally comes in line with the spring equinox trend change move that is due in the markets.
So, the dollar will get stronger and the markets will tank. Still looking for a catalyst for sellers to come into this market as this light buying raises serious doubt that a rally further can continue.
Last week was also the 5th lightest volume week ever! Not to mention we had the longest strip of up days in a 20 years.
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Again. It doesn't neccessarilly have to be the FOMC announcement, but within the next month a major sell off will take place.
I do not see much more upside in the markets, so shorting a little here and maybe more at the 1170-1175 area if we ever get there.
My downside price target is 1096.
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