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Thursday, June 25, 2009

Morning Update Thursday

A few days ago I made several scenarios while thinking outside of the box. At the time I did not believe it was likely, but the lack of downside follow through has put a crimp in the original plan.
For now I'm considering the scenario above as a possible count.

It seems the dollar has loss some of it's connection to the SPX. Even though the EUR/USD was down over night my bearish prediction did not come true. Over the last 40 minutes the EUR/USD fell 80 pips and the SPX hardly wavered. It looks like the SPX wants to go up and the upper trend line has swiched from resistance to support.

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

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