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Paul Koszarny · 02-04-2003, 04:18

The operators lifted EUR/USD up to 1.0955 during the least liquid hours after the closing of New York and opening of Tokyo and then trapped happy buyers. As indicated by the model we have seen a rejection near major resistance and shorts opened at 1.0950 gave healthy 120 pips of profit. EUR/USD touched today's support 1.0812 where intra-day shorts were liquidated. Medium term 1.1400 needs to be put aside to another season I suppose as hourlies formed a typical key reversal pattern, a harbinger of further euro/dollar declines. How much lower it can be is perhaps a good question for the nearest two months.

02-04-2003, 04:18	#3
Paul Koszarny Super Moderator Join Date: Nov 2002 Posts: 322 Downloads: 0 Uploads: 0 Rep Power: 0	EUR/USD sharply rejected 1.0950 The operators lifted EUR/USD up to 1.0955 during the least liquid hours after the closing of New York and opening of Tokyo and then trapped happy buyers. As indicated by the model we have seen a rejection near major resistance and shorts opened at 1.0950 gave healthy 120 pips of profit. EUR/USD touched today's support 1.0812 where intra-day shorts were liquidated. Medium term 1.1400 needs to be put aside to another season I suppose as hourlies formed a typical key reversal pattern, a harbinger of further euro/dollar declines. How much lower it can be is perhaps a good question for the nearest two months.