Wednesday, October 13, 2010


It is Wednesday today, and when I look at the Daily Chart last night before I go to bed, on EUR/USD, I am excited!

1) I head to bed without taking silly actions.
2) The Daily Candle on Tuesday (shadow 106 pips) has formed a long shadow for the weekly candle.

What I forecast:
1) EUR/USD opened at 1.3984 for the week, today, EUR/USD to continue to head north, and hit my 1.4050 target, or even higher to 1.4100 area, take out the previous week high of 1.4029.
2) Observe for XAB for short entry.  Patience.
3) EUR/USD to form an engulf pattern on the weekly chart to show the sign of weakness, and the free fall begin...
4) would it head down to 1.3334 again? Expect it to happen either 3rd or 10th November 2010!

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