1.369X , 1.378X & 1.388Xis a potential reversal point , it could see the second top in the bigger scheme of things ... though i highly doubt it, but you never now!
The arguments are quite simple:
1- 1.369X doesn't correspond to the time allowed for this move ... aka it too early!
2- Technically speaking, Euro appreciation has taken a new level today - its holding at the highs with a daily candle !
3- Budget talks are back ... i wouldn't give it much thought, but the reaction on Gold& sliver is firmly serious! ( Gold printed 3% and sliver 4% in one trading session because of a news title)
4- Feds are too smart to go into a Christmas talking about tapering. November NFP number could be deceiving - season employment.
So, the trade is quite simple: On 20th to 25 of December, if price is near one of this number - that's where i will be looking for the second bear leg on a daily tf.
The arguments are quite simple:
1- 1.369X doesn't correspond to the time allowed for this move ... aka it too early!
2- Technically speaking, Euro appreciation has taken a new level today - its holding at the highs with a daily candle !
3- Budget talks are back ... i wouldn't give it much thought, but the reaction on Gold& sliver is firmly serious! ( Gold printed 3% and sliver 4% in one trading session because of a news title)
4- Feds are too smart to go into a Christmas talking about tapering. November NFP number could be deceiving - season employment.
So, the trade is quite simple: On 20th to 25 of December, if price is near one of this number - that's where i will be looking for the second bear leg on a daily tf.
"It's the Margin, Stupid."