Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Monday, February 6, 2012

EURUSD consolidating ready for break higher.

Or it could break lower..BUT EURO short position still large..
As seen in chart below .large speculators SHORT
Commercial ..LONG

usually commercials are right in medium term

European news is OLD HAT!!
Even Greece default will have short lived effect on the market, as it has been talked about for so long IMHO

Euro daily chart

Looking at the 4hr chart below: we can see the consolidation pattern clearer.  We may have a "fake out move" to the downside before the break out up. Maybe...

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