Tuesday, August 12, 2008

Quick Update

Quick update from absolute paradise (Nature's Valley in the Tsitsikamma primary rain forest in South Africa).

EURUSD broke some important support. We'll now watch a secondary support (see previous post) for a bounce which becomes more and more inevitable. Indices started the week pretty strong and also need to take a breather particularly ER2 on a strong resistance level. Outlook looks good, but we won't however put doomsayers to shame until September/October as we're certainly not out of the woods yet.

Next post... next Sunday... :)