Wednesday, November 24, 2010
Well sometimes the golden cross does not work out as can be expected. Euro turned around at the expected level around 1.43 and is now heading for the 1.30 target or rather a test of the 200 day MA around 1.31 but the travel will not be smooth from now on as 1.3350 level might be a good support short term. Next 2 weeks will produce huge volatility in all markets as Uranus goes stationary on the 5th and Mars will start squaring the Jupiter/ Uranus conjunction next week which is bad news as the Korea situation will likely escalate plus all kind of events can be expected shaking literally the nerves from earthquakes to attacks of any kind. In the 1.30-1 area cover shorts and get even long the EURO again. The weekly and monthly charts suggest we are locked into the 1.30-40 range for the next weeks as the final rally in stocks should start early to mid Dec ( week after 5th).
Posted by getagrip at 12:37 AM