2007-08-14

This middle week update, probably is the most important post for this month!!!

USD Index:

USD index raised, and is almost on the wedge, caution!!!

GBP/USD 2 day chart:

I usualy do not use GBP to forecast EUR, but we clearly see, that the pound is on the wedge. I don't know, tomorrow crasy pound may be 100 pips up, but once again - caution!!!

EUR/USD 12 hours chart:

Support levels - currently EUR/USD gravitated around 1.35.40. Next level is about 1.34.50, which is very close to the wedge and to my target. Caution!!!

Summary:

Caution, caution, caution and then caution again :)
Also do not play EUR/USD bull!!!

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