A consolidating market overnight offered trade the loop d’loop retrace suggested and finally met our profit target 2 (pt2). I am strictly a watcher at this stage seeing a slight bullish tone and I will alert you if something firm develops. Currently if one studies the 30 min Chart — you can see that the euro is lingering on the edge of bearish movement while trying to hang onto a bullish tone. Patience is a virtue.
My primary focus the next few hours will be to remain patient and observe technical structures in the market but to stay alert for news regarding immediate firming of Treasury yields, Russia to restore NGas flows or possibly Iran attempting to make noise to spike Oil $7-12 per barrel.
Britt
