Missing in Action

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.

Popularity: 3% [?]