GBP bounced off it multi-month support line at 1.9697 in a broadening formation.
Just tested 1.9900. 2 possible ??
those who went on holidays, and came back would be surprised to see Euro at 1.4500 instead of 1.4300, just one week ago. (by the way, my subscribers were told of the low at 1.4310-30 in advance and had long and taken handsome profit on the break of 1.4500)
Probably mobilising monies to defend the neckline at 1.4520. Last high was close enough at 1.4516.
the Queen's wealth continue to be in peril. Probably, the French and come and buy up Buckingham Palace at its fire sale. Soon the entire UK is for sale.
All are transient, would update as time goes along. UK home prices coming up, then US consumer confidence big ticket item.
Read yesterday that US consumer can continue spending into recession. Yes, no doubt about that, that is what Credit Cards are for.
Update 8:15 am ET
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Eur just touched 1.4520, as I have forecasted on my Dec 20 blog.
now the million dollars question is:
would Euro pull back or just move higher ?
(it is really million dollars, as some of my subscribers are trading real monies in 1 mio Euros)
Update 8:40 am ET
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Pakistan Bhutto killed. The only muslim nation with nuclear weapon would be thrown into turmoil. It is a minus fo world stability. Get ready for the US Equities to react.
EURUSD 1.4520 penetrated. now at 1.4522.
Testing time, would USD react as a safety currency ? Gold jumped to 828.
May be Gold see this coming ??? (errie.....chill.)
Update 9:05 ET
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Seems like EURO is perceived as a flight currency. Gold and Euro make a projectile rise.
The speed is totally unexpected. It took out the shorts at neckline 1.4520 and rose.
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