DislikedAlthough, 1.5000 seems like a logical spot for a bounce, the irrationality of the current price moves coincident with the happenings on the dollar index, leads me to believe that this sucker has some juice left.
There is a nice confluence of support in the 1.4744-1.4775 area - Yearly M3 pivot, 76.4% of current run (12/07 - 07/08) and the fulfillment of the Double Top price projection. Seems like a nice area for some sanity to creep back into the market!Ignored
I'm eyeing the same level as you. It's as big of a No Brainer as I can think of. I just don't know about that oil deal. I'll still go long, but I don't know if I'll take a very big position. Highest I see it going under current conditions is 1.5280, which would still be a nice run.
I mean, it has to correct soon right?!? lol
That said, the next No Brainer would be to short at 1.5280 if it does bounce up to there.