You have definitely gotten your money's worth of a ride with that trade. Where do you plan on taking profits?

EURUSD

It's almost perfect if the EUR were to sink to the 12800 neckline in the next 3 or 4 hours.

EURUSD

Should be good for a bounce, but the action today is highly suspect.

Cable Update (GBPUSD)

BRAVE — Someone sure wants to retrace all of Friday's move very quickly. I don't know why so I am staying out for now. Good luck and GREEN pips to you.

No Brainer Trades

"short covering" occurs whenever some who is "short" the market buys back their position to close it out. It occurs thousands of times every hour. It affects the market when an abundance of shorts all want to cover their shorts at the same time.

Cable Update (GBPUSD)

Logic sez USD down, but then again it has been illogical that bad US numbers have been strengthen the USD. Your guess is as good as mine.

EURUSD

Sorry wasn't my chart. I was just quoting. My bad.

EURUSD

That's what it did last Friday from almost this exact level. History can repeat it's self.

EURUSD

I wouldn't call the current market "Dollar Bull." I believe that it is more of a "bad economic numbers" better switch to a "safe haven (the dollar)." Until people, companies, and governments stop viewing the US$ as a "safe haven," it will continue ...

EURUSD

Longer term it will be more significant. As for today, I don't believe we will get near that level, but the EUR bulls will definitely be drawing a line in the sand there and the BEARS will have a target to shoot for. Green pips to ALL.

EURUSD

Coming up on the next round number 12800. Will be interesting to see how it reacts. Been pretty boring most of London session, but the bear finally woke up and moved the market. Watching closely. Green pips to all.

EURUSD

[(1.4243*77)+(1.4331*28)]/(77+28)=1.42665

Cable Update (GBPUSD)

12860 — Now it looks like 12860 is resistance, but then again the market doesn't look like it wants to go anywhere right now.

EURUSD

I see 12825 (1/20 low), 12800 (round #), and 12766 ( 1/22 low). Be nice if we got through all three today. Just a wish.

EURUSD

Sure looks like it is trying. Time to watch,

Cable Update (GBPUSD)

Looks like they got it. Now to see if the E/G can make a run at 8900

No Brainer Trades

Still seem unenthusiastically range bound with no great commitment one way or another. Against GBP & CHF the EUR is very weak

EURUSD

A nice round number, but it sure looks like it wants to retest 89 and maybe even lower. JMHO

No Brainer Trades

OPPS — Not too many stops, I guess.

EURUSD

The smell of Stop Hunting is in the air — Looks like they might want to try to push past 12860 to find the stops.

EURUSD