Tuesday, 20 December 2011

Holiday battles between bulls and bears....(EURUSD-SPX)

 EURUSD still hasn't broken with a decisive way 1.2950. If done it could accelerate downwards towards 1.27, or even lower.....The pair is in a sideways consolidation period. Christmass holidays can see eurusd near the 1.3150 but as a correction target. Medium term targets stand below 1.29.

SPX battles with the support in the area of 1200. Our previous target of 1250 should be lowered to 1240. SPX at 50% retracement still doesn't have a clear downward impulsive form. The 1200 spot support hasn't seen a close under it so it still holds for me. If broken 1187 is a fast target....

1 comment:

  1. Upside target of spx changed to 1250 again due to steepness of rise. Maybe a pullback to 1220-25 and again to 1250.