The recently battered EUR will continue its relief rally for a bit while the US financial system implodes and the fed remains hawkish on rates. Possible resistance at appx $1.4440 but even if that's broken I would expect the long term downtrend to continue until we get a convincing reversal pattern established. 9/17
This opportunity has passed. A take profit order at $1.4440 would've bagged a ~50 pip profit. Small but considering the tumultuous markets it's worth taking. Expect the dollar to rally on the new Fed proposal to create a fund that will purchase $800 billion in toxic assets. Long dollar is back in vogue. Time to sell gold?? 9/18
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