Yesterday I got a few mails asking me where I have my next LT support level at in the EURUSD. I have my next LT support level at 1.2505, it is obtained from the weekly chart, the double bottom it formed in late 2008 and early 2009.
This means that I’m still bearish in the EURUSD, and will continue to look for short opportunities.
Something caught my eye this morning though, have you seen the reaction of the USDCHF? You know the EURUSD and the USDCHF are negatively correlated, but the reaction the USDCHF is having today kinda makes me worry a little, they are out of sync.