There should be a nice shorting opportunity in the EURUSD this week. Find out what to look for here.
The euro continues to get punished, and I think at this point we are getting ready to attempt to break down below the 1.08 level. Having said that, there is a significant amount of support here, so a short-term rally is almost certain to happen. Nonetheless,
Keep in mind that the area below 1.08 is very noisy, so the drive down to the 1.06 level will more than likely be more of a grind than any type of freefall unless headline shocks cross the wires.The British pound has rallied again against the Japanese yen, breaking through a major barrier in the form of the ¥165 level. That being said, we are overstretched, so I think this is a situation where you mayThe ¥162.50 level should be supported, just as the ¥160 level will be.
any short-term rally that you get is more than likely going to be an opportunity to short this market again.
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