DislikedI'm on a different feed than most of you, but again its trade what you see....Ignored
I don’t like doing updates mid-week as the remaining days can turn it on its head so, as of where we are now, April 22, 2009 at 3pm EST:
EURUSD:
The BIG BOSS has formed a nice solid base around psycho 1.2600 so its going to take something BIG to get below there – the current financial turmoil didn’t do it so………………….
The BOSS looks to me like she is trying to put in a swing low – we will not know for sure until the Friday close and then the week after to confirm it or not.
The Daily is now testing support for the third time (with 2 hours to go).
So, put all this together and see if it tells you anything
GBPUSD:
The BIG BOSS looks like she is putting in a CONFIRMED swing low but there are still 8 days to go.
The BOSS is already making higher highs and higher lows and this week COULD be another higher swing low – wait to see what the close of Friday tells us.
The Daily is trapped between the 20 and 50 – stay out until she tells us where she wants to go. Usually, a big move springs from the 20 – 50 trap. The Daily WAS doing a nice stair stepping uptrend UNTIL it met psycho 1.5000
So, see if you can “feel” what is happening.
USDCAD already discussed ad nauseam in earlier posts BUT note also the Daily is in the 20 – 50 trap.
15 YEARS OF PASR ON FOREX FACTORY!