Monday, July 25, 2005

Eurocurrency


I thought that the September eurocurrency would hold support at the 1/2 point of its current box but today's price action has changed my mind and I now expect a drop to the bottom of the box near 119.90 before the market resumes its rally. I still think we will see a move up into the 125-126 range before the bear market resumes.

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