Hello Everyone...........
Quote:
A week ago the Euro Bulls were anticipating a Euro North break at 1.22 onto 1.2350<>1.2450...the Market delivered a 1.1952 South Low as the Commercials Large Specs built a Euro Short Position at/below 1.22 the Speculators were Buying a South Reversal.
FOMC week... the Euro Commercials are heavily NET Short the Euro at levels seen in late January 2006...The Euro is Positioning for a retest at 1.19 onto 1.1860<>1.1825 upcoming.
FOMC to 4.75%...May/June 5.00%<>100%...5.25% picking up steam.
USDollar Bulls are running...On hawkish FOMC statement.
Euro Sell Zone same as last week...1.2110<>1.2080.
South break at 1.20 in progress onto 1.1980<>1.1950.
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Euro current Low the 1.2107 South Reversal...1.1979.
Just over a week ago Euro Bulls were Targeting North 1.2350<>1.2450...with the Euro South Reversal retesting the 1.1952<>1.1979 levels.