Bottomless ?

At least EURUSD is going exactly where anticipated. It reached our 1.381 target and could find a support at this level. We can't however dismiss the possibility of testing 1.36720.

ER: Aiming at 625 although it could bounce on stall level here around 640. Down pressure is certainly too strong to expect any recovery soon, unless of course another exogenous shock abruptly changes dynamics.

ES: Trying desperatly to find some support around 1125, the market would otherwise shed more... In case of breakout, target would be 1072.

Conclusion: again & again, same as previous days i.e. have fun on short intraday time frames or go enjoy indian summer. No rush to get back into the market.


NOTE: Sorry but won't be available this Friday. Back to normal on Monday