Friday, October 23, 2009

EUR/USD Weekly

The WEEKLY chart is a little busy due to the Fib Retracement on there, but it is there for a reason.

Yellow rising wedge plain as day. Note that it is in a battle with its next to last resistance line before approaching the top. The next stop if it gets thru here is the 78.6% Fib and the resistance at that same level. Another thing to note is that when it tanks it tends to fun a ways and in a hurry. Also notice the indicators. They are spent. There is not much room to run. If this resistance is taken out look for the EUR/USD to top at the $1.52 level and for the other indexes to top there as well.


  1. shank, great call on the backtest spx and vix

    what about monday gap down

    can the vix explode from here

  2. I'll have to digest it. I'm om record calling for more downside after a pop cause the dailys are still negative and it will take one heck of a whipsaw to make it turn. I'm stoked about the call from last night in the face of a major up day and AMZN earnings - always trust the indicators. Check back monday AM or sunday night. Thanks for the compliment and the views.


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