Saturday, February 9, 2013

Watch the FX markets for clues on the Risk trade

The EURUSD dropped back below a key Fib-Level and could target the next downside zone.


The Weekly EURYEN paints a similar picture. The Bull move stopped at a resistance level and should we see downside confirmation the action could get explosive.

If the Euro can NOT be pushed up again (by the global Centralbanks) then a stronger Dollar and Yen does bode ill for the Risk Trade bulls for the next months.

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