Friday, 24 February 2012

Is there still room for the rise to continue?

 EURUSD holds short term support of 1.32 and moves towards our first target of 1,34. Next resistance target 1,35. Trend remains up both short and medium term.

SPX continues to rise with small corrections during this upward movement. 1355 spot should hold at a daily close basis for short term up trend to remain. The new high as expected are very near and I really want to take profits because this rise looks more fragile the more it continues. So buy the pullbacks with close stops in case this market makes a larger correction towards 1300.

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