It is all about US equities and the speed at which the asset reallocation from bonds to stocks will continue. The political landscape and the potential Middle East time bomb are creating some understandable waves of fears. So one should follow the IM, with Eubie, WB, Roger and the rest of the gang. The Tradercockpit indicators gave us a a short term peak in the EURUSD on Monday morning. I am curious to see the update tomorrow and see if the medium term waves have turned down. If not , there could be a nice short squeeze around the corner.Short term the punch at 1.2850 for a scalp long was too tempting, so we took a punt.
PP 1.291150 Weekly 1.2969
R1 1.296425, R2 1.304350, R31.317550
S1 1.2832 S2 1.27795, S2 1.264750