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  #720 (permalink)

La Jolla, CA
Trading Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
Private Banker's Avatar
Posts: 1,040 since Jul 2010
Thanks: 1,713 given, 3,828 received

Euro seems to be bouncing around within a bearish channel this past week. Quite the whipsaw ride but great for intra-day directional trades. It seems that TPTB are trying to orchestrate a rumor every day in an attempt to bring back buying interest. Couple that with repatriating dollars for euros and we've got a wild ride. Despite all the wild swings, we closed just barely below last week's close leaving a nice tail to the downside on the weekly candle which could prompt the bears to try and refill it. A re-test of 3130 seems very likely here.

On the lighter side of things, did anyone notice the fire breathing Elephant formation on Friday? Lol! (See attached)

Attached Thumbnails
EURUSD 6E Euro-6e-12-11-15-min-12_9_2011.jpg   EURUSD 6E Euro-2011-12-10-6e.jpg   EURUSD 6E Euro-6e-12-11-5-min-12_9_2011.jpg  
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