AUTOREFRESH 
EUR rally starting to look very constructive
All technical analysis is very subjective, in other words I tend to project my underlying view onto chart formations whether I want to or not. I think the EUR market is very short and is ripe for a major short squeeze. The reports overnight that the US Dept of Justice is telling hedge funds to save their trading records is certainly an interesting development. Perhaps we are in a whole new world. Traders meeting up and taking on a market used to be quite acceptable but that was then, and the now is different.
Back to the chart. Possible major base forming just ahead of the 61.8% retracement level at 1.3430. Impulsive rally to 1.36, retraced to 1.3520 and we are now in wave 3 which is showing no signs of tiring. There are certain to be speed bumps but if this market breaks above 1.3700, we could be in for a big squeeze and levels around 1.40 would not surprise me in the least.
Have a dry weekend all 
Since i am a new comer it a bit difficult to digest all these things… In Simple Language can we see a rally of Euro the 1.3700 levels as i have purchased at 1.3635 level….
Awaiting ur reply…
Thanking u in anticipation
Regards
Mukesh Vaishnawa
Hi Mukesh, nice to hear from you. That of course is only my opinion and I’ve been very wrong before but yes I expect EUR/USD to move higher, firstly through 1.37 and my ambitious target is 1.38 later tonight.
Isn’t it funny? Soros big financial suporter of Obama might get some close inspection of his practices by the same people he helped propel into power.
Like Lilac said, posturing. As much as anyone can demonize Soros for exploiting imbalances, he’s got philanthropy cred which eclipses said speculatory wrongdoing. One could argue that’s posturing on his part too, and thus we have a market
Europeans are blaming financial transactions arranged by Wall Street for bringing Greece to the brink of needing a bailout … http://online.wsj.com/article/SB10001424052748704548604575097800234925746.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsSecond
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