Weakness during the first few days of the week found support at 1.2890-1.2935 area, which was noted before in several posts, over the last few days. I´ve been watching this area for almost a week, now.
This area is not random in my analysis, but relates to a precedent situation (as noted on the chart below) in mid-September where the upmove gained thrust on the move to swing highs. Therefore, it is an important area, the way I look at things. The next meaningful support area in my analysis is 1.2750 – 1.2810
As for today/next few days, I´ll be looking at 1.2964 – 1.2985 area and -more importantly- 1.3045 -1.3080.
I was wrong on Fridays´s post. The big move never occoured.
After beign rejected at 1.3180-1.3120 level, dating back to late April/early May -as shown in the chart below- it found support in the 1.2890-1.2940 area, which was noted as a meaningful area where buyers acted before, on the Sep. 19 post.
It has been fairly balanced during the last week and I rather prefer to wait and see what happens once the above referenced areas are tested.
As noted on the chart above, there´s been strong buyer´s interest in 1.2890-1.2940 area. My thinking is, if this area doesn´t hold, likely is that it will test 1.2755-1.2810 band, due to small interest in the 1.2805-1.2895 area. On the upside, 1.3050-1.3090 is the first threshold, followed by the -previously tested- 1.3120-1.3180, which has worked almost to the tick as seller´s got interested in acting -I´m attaching a close-up on the chart below.
Provided sellers are not successful in defending this area on a third attempt, the area between 1.3210-1.3250 is the one I´ll be watching, followed by 1.3285-1.3358, dating back to the last week of March.
Porbably one of the best skiers in history. It almost seems like he´s -effortestly- dancing.
Among many accomplishments (he won all three Olympic gold medals during the 1968 Winter Olympics -downhill, slalom, and giant slalom), Killy starred in Snow Job (1972). The openinig sequence is embeeded below.
Retraced back to the support areas marked back on the Sep. 19 post
New area to be taken note as support/demand area 1.2960-1.2980
Resistance/supply area still remains contained 1.3080-1.3040, as noted previously
Range expansion in today’s European session might suggest that a bigger move might be coming
Just finished reading a great piece on the NYTimes about the inner workings between the organized crime and financial institutions.
The United Nations estimated that $1.6 trillion was laundered globally in 2009, of which about $580 billion was related to drug trafficking and other forms of organized crime.
“Where The Mob Keep Its Money” covers thoroughly what has been and incestous but mutually-benefical relationship dating back to many decades -if not centuries, which has gained the spotlight after the attacks of September 11. No wonder why Legal & Compliance is one of the few areas in the sector that is actively hiring.
longer timeframe – previous buying interest:
1.2980- 1.2997 area, and -more important- 1.2890-1.29350