Last week's decline looks like the first leg down of the move off the big bearish ABCD. And this first leg down isn't necessarily over yet...

I'm still trying to collect my thoughts and post them, regarding my posts, as mentioned on Friday. Hopefully later today.

So, will the G20 meeting cause a big jump in the currencies on the open shortly? With the U.S. the only one on the stimulation side vs. the austerity side, will the DX take a big hit on the open, and hence the futures take a big jump up? Another goofy Monday huge gap? Given how much selling happened last week, the Friday reversal, the Sunday night GLOBEX/Monday up thing, and that this is a seasonally 'up' week historically, I can't imagine we don't have a big gap up on the open, with the DX getting pummeled some more. Recall, too, how the currencies are at areas where they need to reverse, or they could get legs.

This will be very interesting, indeed. What's curious is the supposedly great discounting mechanism that the market is said to be needs confirmation of the obvious from what leaks out of the meeting to know where the U.S. and the other countries stand, so it can price in the 'news' when it happens instead of already pricing it in? Isn't that completely wrong? Very curious, huh?

Very interesting. They didn't gap it way up to start. Let's see if they run it from here now...

Here they come...

Pretty dull Sunday night...

Nice clean Kane Pattern-Line-Fib completing at confluence of 0.382 Fibo Retrace (of GLOBEX Lo-to-Hi), ML Upper //, 200 SMA, and 21, 2 Upper Bollinger Band. I like this trade very much.

Good Trading,

Al Kamego

The lines from my chart above are guiding today's action pretty nicely. The breakout from this coil should show us direction for some time to come:

Classic bearish .447 TD ABCD. Will the upsloping ML hold the decline for n-th time?

I think it's very important to see if this can rise off this 70.50 low here, or if it rolls over.

Watch for a little 1.128 or 1.272 to fully test jarek's line here if the 70.50 itself doesn't hold. I'm not saying I think this will go up, only that this is a key area to be watched, in case they want up. If it fails, it may get it moving down hard.

Little 1.272 'test' hit at 70.00... Now let's see.

That's the one.