Friday, July 29, 2011

US Debt Vote

US Debt Vote delayed, VIX jumps to 23% (highest since June 2011).
Market continues to slide. The Dow has slid for 5th straight days.

Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow has fallen five straight days because of worries that the U.S. might default on its debt if Congress doesn't raise the country's borrowing limit. It's down more than 484 points, or 3.8 percent. Just five days remain until the Treasury Department says the government won't have enough money to cover all of its bills. Even if the U.S. doesn't default, investors worry that the country might lose its triple-A credit rating. That could raise interest rates and possibly slow the U.S. economy, which is still recovering from the worst recession in decades.

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Forecast EUR/USD to bounce off from this low 1.4252.
If can break above current resistance 1.4350, then will go higher 1.4450, 1.4550.

Related post:


fulfilled fibo retracement entry, but my order just got expired again. >.<
Will queue to short again today at 1.6370 region - 1.6400, SL 1.6437.


  1. Where will you go long on EURUSD?

  2. Dear Ai Shiang, I set an alert at 1.4290. I saw it this morning at 1.4320 but the breakout is not successful.
    Will observe to long if reversal is formed at 1.4290 region again.

    However, my preference is to short GBP/USD..

  3. entered long EUR/USD 1.4265, SL 30 pips.