Im a firm believer there is more upside potential for the EUR, Im looking to position myself but not sure if I will do it tomorrow ans the weekend is around the corner...mmm

What do you think?

Hello back Ruchino!!!

Now Im impressed! you hit the nail with that prediction! but now the question remains... will it continue? because I dont see much strength on that movement.

What do you think?

Now that we've moved up a little and it seems that we are running out of steam, I think that a retracement is due. I think we could realistically see 1.44 before the hike back up to 1.50. If you will look on the weekly charts, this could be the beginning to the correction to 1.44. After that, I will analyze the charts more in depth and then most likely place my buy order at that area.

I have thought of this theory for about a week now. Once 1.50 is hit for the Euro, I think we will see a downside movement as 1.50 is where a LOT of peoples take profits are at. Once these take profits are hit, there will be a hindering in the buying power for the move. This let up in buying pressure will allow the bears to come into play once again. With that, there could be a great shorting opportunity, although it would be countertrend. After the shorting opportunity, we would see another opportunity to buy to make a test of 1.50 again as people start to see levels that they think are good to make a buying order. It's all about consumer psychology folks.

Hey Mike!

Im thinking the same thing... I will probably take action eaxrly next week (as described in the other thread).