DislikedToday's is a case of bulls reloading for the next ride up......look at
H4 55EMA has held the PA above it since January 16th. I have closed out all my shorts.....kept the longs open. We are exactly at the 55EMA on H4 Chart. I can point out two instances this month when we have touched the 55EMA and immediately rallied 140 pips. Look 7th Feb and 1st Feb....yet it all started with a false alarm bearish action.
Meanwhile grab some popcorn and enjoy the bonfire in Greece. It is meant to excite and trap the Bears. Roast bear...Ignored
If the uptrend breaks we could slowly top out. otherwise 1.33 will surely be played again.
these levels are still great for bears hunting on the higher timeframes ... a continuation of the superior downtrend from here on is definately possible .... not only by technical reasons ...
here a chart with some key levels, i'd expect to be tested ... i drew some possible price action in it ... just for illustration purpose
happy trading
chaot
http://img23.imageshack.us/img23/2885/30177165.jpg