Dollar looking weak.. i know trades in this have been so one sided that we were bound to get aggressive buying, however i'm not a buyer today...will be looking to short this against the looney.
Does this mean the downtrend continues?...probably
As for geppy... oh..geppy...she might do a turnaround today and that means she will be a buy ( PA generally bounces off the 21 EMA). I'm keeping an eye on stocs and watching the sequence of lower highs and lows on the smallerTF's i.e 60 min
I'm not going to be gun-shy and will reverse my position if the sequence breaks....banking my pips and then doing a runner. If we take out the 162.40 level (Monday's High)....then forget the shorts.
As mentioned during the week...i'm treating this weeks move as a retrace and retrace only..if we take out last weeks low, then the weakness will probably continue, if not..hold on to your hats.
Let's see how it plays out.
Happy Pippin
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