Consolidation tighter than a hand rolled cigar here. Big move set.
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AmsterdamWhale
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I would be interested to hear your interpretation of Friday's price action, with respect to this instrument and how it has influenced your expectations, for lack of a better word. It appears a breakout to the upside was attempted on the back of weak DX price action Friday, but failed. To my way of thinking this strengthens my anticipation of a strong move down, however ECB seems very, very unwilling to lose any ground gained in this currency as I have been surprised time and time again when expected EURO weakness did not transpire. They have a very different attitude towards the currency in the halls of power in Europe than, say, you find in the US, and I am reliably told by friends in Dutch CB that exec.'s in ECB to a man are loathe to lose any ground the currency may gain. To what end, I must say, I have not the slightest understanding....