Tuesday, September 09, 2008

Quick Market Update (and Important Info...)

EURUSD: we reacted quick to the change in dynamics mid July, and we've been going with the flow since. Now, it is important not to fall into contrarian tendencies and anticipate a correction every second day. We are as surprised as you are about the relentless of the US$ probably due to unacceptable low levels seen on long times frames. We therefore only give targets as potential support levels to take profits or tighten stops.
The next daily targets is in between 1.381 and 1.383.

ER2: no change in outlook until we finally pass 750
ES: same, i.e. no change in outlook.
We here notice clearly how prices jump from level to level and then evolve in price segments. ES is clearly in the [1250-1281] segment (cf. yesterday's post below).

Nota Bene: Due to budget constraints, this free service is VERY likely to be closed at the end of this month. Please contact me if interested in keeping this Market Snapshot going.