Thursday, July 22, 2010

Nervously awaiting the stresstest results

With possible big moves ahead as a result of the european bank stress tests I have a really bullish count and a big bearish count (= alt). There's a break of the rising channel which has to be watched carefully. We should know more about the futur direction of the trend very soon.

Geplaatst door op

2 comments:

  1. AnonymousJuly 23, 2010 at 9:17 AM

    Yes, stress test results will probably give euro a push - if up, then I assume that this push does not last long, if down, then it will travel much further. Interestingly, many pairs are in position for trend reversal: usdjpy, usdchf, usdcad, as well as euro and pound.

    I would assume that euro drifts to daily pivot, and park itself there for the results.

    Thanks for the nice charts, Jeremy.

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  2. Jeremy DemunterJuly 25, 2010 at 6:15 PM

    Hi,

    Thank you for your comment! Interesting time indeed, we have to be on the lookout for reversals, but don't forget that trends can remain intact longer than we have money.

    Friendly greetings,
    Jeremy

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