Thursday 21 April 2011

EURUSD

Quick comment.

The speed and surprise of the rebound on the EURUSD is stunning. - I guess the run up to the high 1.4000s - at a minimum - is on the cards now, with pullbacks to the 1.4450/1.4500 likely to be support.

Last week's Harami looks like a failure, unless we have a very weak close today.

Markets are likely to be thinner from here into very early May, with the confluence of Easter, Spring and Mayday (& Wedding) holidays over the next couple of weeks. - I am always a touch skeptical of moves over thin markets. . - My guess is the thinning of markets probably kicks off today, however I would be interested to see volume stats for the past 48 hours.

Enjoy the holidays.

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