Tuesday, November 08, 2005

Eurocurrency


Here is an updated hourly chart of pit and electronic trading in the December eurocurrency futures.

I think this market made an important low this morning at 117.32; even if I am wrong I don't think it will drop as low as 117.10. The intial rally from the low is likely to stop near the top of the next box up around 119.90.

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