Wednesday, September 30, 2009

Market Update - Oct 1st '09

A bit of traveling again tomorrow so here is an early shorter report which i might update before the open.

One will notice that i was spot on again yesterday with pretty accurate targets... Erosion seems likely to continue for both ES and TF. It is difficult to say right now whether selling will pick up momentum or whether it will aim lower than current range lows (60mins chart). This is a clear "airhole" situation which can lead to temporary hesitation, congestion, and directionless volatility.

EURUSD: very marginal upward bias, and at the same time 1.464 turned to stronger resistance level... This price level can be tested again but EURUSD will likely then drift lower to recent lows.

( posted 10:07 PM UK )