Missing in Action

March 31, 2006 by Trader Rich

I’ve been missing in action most of this week. I’ve been recovering from my stomach bug and been taking some time off due to a hectic schedule and other responsibilities. I haven’t dedicated nearly enough time to the currency market or the Forex Project this week.

It seems like my beginning of the week analysis of the EUR/USD was not too bad. For those of you that don’t remember, I was going to try to improve my technical analysis by "pretending" to be a Currency Strategist. I use the word pretend by if you really think about it, we are all our own best Currency Strategist. So though I was analyzing the market as if I was a Currency Strategist, the simple fact is that we are all Currency Strategists.

My prediction from beginning of week was the following:

Prediction
EUR/USD may remain in the 1.2000 - 1.2200 range. If the psychological important 1.2000 is broken, look for furthur downside to 1.1868.

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