Well if we consider the move up exaggerated, we may see a bunch of small bounces, drawing in longs (since the trend has been up for weeks) faking them and then drop lower, making the longs cover, and adding momentum to a down move.

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What are teh chances for a straight drop to 1.35/36. I have a hard time holding for big profits lol

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Is this heavy selling volume? Or is it light.

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Oanda was screwy the other day too.

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1000 pips in which direction. I assume we would be talking down considering we're only up this high based on POSSIBLE QE.

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What can we contribute this high volume to?

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You can watch bernanke, cnbc.com click the top button saying "Ben Bernanke In Pittsburgh"

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My only concern about EU short is Big Ben speaking later. He's been awfully open about his desires to tank the dollar lol, so why would today be any different.

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Gold new all time highs, DOW making new highs, but Euro not able to. Is this a sign that the run is up? If DOW/Gold start dropping it most likely will take euro with it.

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R.I.P eur/usd, (It flatlined) lol

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Money management is key. I still think a sizable correction is in the future. Just tough with all these QE2 talk. I would expect a large chunk is already factored in, hence the lack of decision at these levels.

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I'm short, so that's what I'm thinking.

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Daily was looking good, when it broke under 1.3830, then it bounced all the way back up so I'm not sure where it goes from here. I guess it depends on the close.

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Solid chart 1.33ish seems to be the calculated areas. I wouldn't mind that, I'd take 1.35 though.

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Look at the lack of interest. I'd say lower. Look at the last time it hit this spot, it popped up. Now it's just lazily hanging.

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What about USD/CHF, considering it's usually the reverse of EU, it gapped down into support and now could possibly pop and run for a few days, which should send euro down?

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Oanda showing EU @ 1.3987, so roughly a 50 pip gap.

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Can't forget the bearish gartley patterns on the daily and weekly. Just waiting for the first dominoe to fall.

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A good number would ease concerns of QE2, well, one would think. lol

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