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I am using this Blog as a mechanism to attract traffic to our Company Vampire Trading Network, Inc. I will post my analysis of the Euro FOREX Currency using our proven custom indicators. I hope you will use this information to your advantage, realizing that it is a speculation on what might happen. Any trade is a 50:50 proposition. I hope to increase your probability of success.

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Thursday, June 17, 2010

Euro 1H Tight Channel Breakout, Any Which Way, Daily Longest Ascending Channel Since November


Tonight has been a long evening of indecision, and with little to no fundamental news this Friday, anything could happen.


Significant with the Euro for this week is that it has maintained a steady meandering walk of nearly 300 PIPs a week.  While the ATR is again shrinking to pre fall levels, The Euro broke through a 38% Fibonacci Fan line last week and as of today has held on to breaking the 50% Fib Fan line.  Can the Eruo hold above this line and make a play for the 61.8% Fib Fan Line at 1.2500?

Those still waiting for the 4 hour to do something may wish to watch this am and counter a break short but the 1H.  AT THIS TIME, momentum is still favoring a completion to 1.2433.  That 1.2412 boundary has been a real BEAR to get through.  In our favor there does not seem to be much in the way of 1.2452 or  1.2488.  But be cautious I still am not in love with breaking 1.2500.  It would be nice to run back into the twenties, but I don't see Europe offering anything substantial to the world, not to say the the US can do any better, there is still a wealth of intellectual property.
Posted by at 10:59 PM

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