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Paul Koszarny · 17-04-2003, 05:49

EUR/USD touched 1.0960 on Tokyo hours and it doesn't matter why as it's off its local high right now about 50 pips. I haven't seen such an overbought market for a very long time. M15 charts clearly signalled negative divergences on stochs and RSI. This temporary relief is a minimum correction on fractals and 1.0905 is today's first support. I will look for a new opportunity after 13:00CET, the first model hour. I had shorted at 1.0960 and closed already squaring two days of trade. Interesting signals from Polish emerging market. Futures FW20M3 which reflect WIG20 sentiment yesterday generated bifurcation on volume near a local low after a slide 1183-1130. If you recall early March posts we had one buy signal at 1066, a rally to 1183 and a sell at 1178. Now at a trend support another buy signal. It makes me reflect that there will be an improvement of sentiment on major bourses. Assuming some correlation with the dollar it should be dollar supportive.

17-04-2003, 05:49	#8
Paul Koszarny Super Moderator Join Date: Nov 2002 Posts: 322 Downloads: 0 Uploads: 0 Rep Power: 0	EUR/USD off 1.0960 EUR/USD touched 1.0960 on Tokyo hours and it doesn't matter why as it's off its local high right now about 50 pips. I haven't seen such an overbought market for a very long time. M15 charts clearly signalled negative divergences on stochs and RSI. This temporary relief is a minimum correction on fractals and 1.0905 is today's first support. I will look for a new opportunity after 13:00CET, the first model hour. I had shorted at 1.0960 and closed already squaring two days of trade. Interesting signals from Polish emerging market. Futures FW20M3 which reflect WIG20 sentiment yesterday generated bifurcation on volume near a local low after a slide 1183-1130. If you recall early March posts we had one buy signal at 1066, a rally to 1183 and a sell at 1178. Now at a trend support another buy signal. It makes me reflect that there will be an improvement of sentiment on major bourses. Assuming some correlation with the dollar it should be dollar supportive.