06 December 2011

EUR/USD : Waiting Game

  • Weekly chart SHS Top still possible (=bearish). On other side, can't really find a reason to be bullish from the chart.
  • So, positioned small short only ahead of possible break in near future. Timing uncertain. Patience is vital.
  • Awaiting downside break of 1.3211, which is where the neckline is this week, as well coinciding with the  previous low from 2 weeks ago.
  • Otherwise, lacking inspiration here but staying vigilant.[Short corn is effectively the same trade, performance depending on Risk Off (=USD buying) becoming dominant behaviour].

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