The first trading day of June was a CRAZY day, with rumours on ECB Intervention on, then off, the back on and then closing off. Then Speculators produced a fresh multi-year low for Eur/Usd, which hit 1.2111, before eventually bouncing and settling in the 1.2200’s.
The Eurozone debt crisis continues to worsen with the ECB most recently warning of additional bank losses.together with softer China data and possible criminal probe into BP’s , and Iran looks to be in the process of diversifying away from Euros into USDs and gold. -- all these aabove may put on lots of pressure on EURO tonight.( Right now the EURO/USD is traded at 1.2180, and it is heading SOUTH very rapidly , with Indicators shows Extremely Bearish, it may break the last night low 1.2111, and exposes 1.2000 !!) ---- Now GMT 12:40, Beijing//KL/Singapore 20:40)---
PLEASE REFER TO MY Monday(One day ago) Posting on the Detailed Technical Analysis on Euro/Usd....
Just watch the EURO CROSSES CLOSELY, (ESPECIALLY THE EURO/JPY, EURO/USD, EURO/GBP), THEY MAY HAVE THEIR RESPECTIVE BREAKOUTS TONIGHT!!
WILL UPDATE ON ANY NEW DEVELOPMENTS !!
LATEST UPDATE:
A terminal wedge formation soon on Euro/Usd ? Just Watch out...... CRITICAL MOMENTS.......iT MAY BE THE BIG AND DECISIVE MOVE ! The congestion is now grouped near 1.2200 zone,, EURO/USD below 1.2000 may be in sight soon !
Do the Trade set up now, A SELL ORDER SHOULD BE READY BY NOW ! (Please use the Trend line from bottom chart as a guide to set up your sell stop, your protective stops, and your target shall be open {or 250 pips) Note: 1.2140 is the horizontal wedge line, thus 10 pips away from this level is recommended for the sell stop set up.( Your protective stop should be tight , close to 60 pips in view of the possible ECB INTERVENTION anytime ! ACTIVATE Also the Trailing Stop.
ANOTHER UPDATE
The anticipated Euro melt down will not happen as there is a STRONG evidence of Somewhat Intervention from the ECB. The will to defend The level at 1.2200-1.2250 is very strong. ,
SUBSEQUENTLY, There is a strong SHIFT in Risk Aversion as Liquidity pours into US Equity market causing a lift of 2.5% in DJ/ S & P 500 RIGHT NOW....
HAPPY TRADING
Do the Trade set up now, A SELL ORDER SHOULD BE READY BY NOW ! (Please use the Trend line from bottom chart as a guide to set up your sell stop, your protective stops, and your target shall be open {or 250 pips) Note: 1.2140 is the horizontal wedge line, thus 10 pips away from this level is recommended for the sell stop set up.( Your protective stop should be tight , close to 60 pips in view of the possible ECB INTERVENTION anytime ! ACTIVATE Also the Trailing Stop.
ANOTHER UPDATE
The anticipated Euro melt down will not happen as there is a STRONG evidence of Somewhat Intervention from the ECB. The will to defend The level at 1.2200-1.2250 is very strong. ,
SUBSEQUENTLY, There is a strong SHIFT in Risk Aversion as Liquidity pours into US Equity market causing a lift of 2.5% in DJ/ S & P 500 RIGHT NOW....
HAPPY TRADING
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