I like the double top on the EUR/USD but don't have the balls to short it. Will look to get long as we approach the support (154, I believe?)...maybe stagger some small longs @ 1.56 and look to get heavy as we come down to support. Targeting at least the resistance line @ 1.58 and may hold on to some for a break above and run up to 160, etc. Not sure. Not a EUR/USD trader but the technicals give me some comfort right now, in addition to my thoughts of further US econ weakness.
And...also looking to get long on the GBP/USD, if we can get a pullback to support (around 198 IMO)...may stagger longs starting at 1985, 198 and perhaps again at 1975...need to look at the charts a bit more to come up with a support figure. But I do believe it's due for some pullback and already this morning it fell below the 199 figure.
Thoughts? I know I'm getting at least a few page views...one coming in from New Zealand. Cool! And speaking of NZ, I know I was talking about setting up a short for the NZD/USD last week...but I was waiting for some more NZD strength to come about to get a nice short entry. Well, I may have missed it early this morning on the run to .765...but it may head back up to about .77 which would be most ideal with the downward trendline. Anyway, I'll keep watching. USD weakness could offer me my ideal price. I'll look more later.
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