http://www.forexfactory.com/attachme...7&d=1276203287
Anyone care to deconstruct the behavior of the EURCHF during April and May? In particular, the near straight line through April is quite remarkable and begs explanation. (click on image to enlarge)
Appears it all started on April Fools Day with a 266 pip bungee jump. After that it sort of became magnetized to the 1.4325 support level where it lived with little change for just over a month. Then it just fell off a 300-pip cliff, climbed all the way back up, fell all the way down again to the foothills of support at the 1.4005 level. It gave up climbing and instead spent a week building a jet pack that it then used to rocket back up the face of the cliff but didn't quite make it. Barely hanging on--fingers of one hand clinging to the ledge--it got the reserve fuel tank attached to the jet pack and blasted off again, soaring up into the air above the 1.4325 mesa. And with with the help of a little bit of arm flapping, it made it almost to the early March clouds before sputtering. Slipping below the magic mesa, somehow it still managed to hover above the foothills until the end of May, making one last stab at the now spiteful 1.4325 before burning out, thudding down the bluffs, bouncing a couple of times across the foothills, and tumbling down into the ravine.
Anyone care to deconstruct the behavior of the EURCHF during April and May? In particular, the near straight line through April is quite remarkable and begs explanation. (click on image to enlarge)
Appears it all started on April Fools Day with a 266 pip bungee jump. After that it sort of became magnetized to the 1.4325 support level where it lived with little change for just over a month. Then it just fell off a 300-pip cliff, climbed all the way back up, fell all the way down again to the foothills of support at the 1.4005 level. It gave up climbing and instead spent a week building a jet pack that it then used to rocket back up the face of the cliff but didn't quite make it. Barely hanging on--fingers of one hand clinging to the ledge--it got the reserve fuel tank attached to the jet pack and blasted off again, soaring up into the air above the 1.4325 mesa. And with with the help of a little bit of arm flapping, it made it almost to the early March clouds before sputtering. Slipping below the magic mesa, somehow it still managed to hover above the foothills until the end of May, making one last stab at the now spiteful 1.4325 before burning out, thudding down the bluffs, bouncing a couple of times across the foothills, and tumbling down into the ravine.