Tuesday Sept. 11/07 2:00 a.m. EST
Even though this Market has dropped through from Sunday’s open of 1.0544, expect some resistance at the 1.0490 level, perhaps even a bounce back up to the 1.0532 area. 1.0540 area should begin to bring the selling back in. Overall, the struggle is revealing itself quite plainly and the trend still remains with the Bears to the downside. Spikes to the upside may be rather quick, so take any short term profits should you be a buyer this morning. Oscillator Cycles favour a bounce to the upside today. Be satisfied with anything around 30 pips, and remember, when the weak hands fail, the Bears will once again be justified in riding the Market to fulfill it’s obligation to the downside. Also, any reports coming out today may cause the Bears to temporarily cover their shorts.