Euro stopped at a very interesting area, showing some potential for reversal: bullish ABCD (H4) zone at the same price level as grouping derived from bearish ABCD on D1, at the top of B point and daily MA(50).

There it is! They just needed the shakeout first.

Originally posted by jimkane

Okay, the low there is very significant on multiple higher timeframes. If they let that go, it could mean a lot more downside. I'm hoping it gives way, but I can't see it happening without some kind of fight. But, you never know...

But, in case this is actually a shakeout to the other side (or both sides), keep a close eye on this potential bearish ABCD here.

Okay, if this really does start up, I'm watching three levels:

6.50-7.00

9.00-10.50

13.25-14.50


But it looks weak, and I'm thinking they may sell it more. If they take that LOD out, it should be toast.

They sure look like they want to monkey-hammer it.

They want to kill it...

"Monkey-pah can ease up on the sweet dep line, the line broke, the monkey get choke..."

One interpretation of what the singer for UB40 is saying in their version of 'Red Red Wine'.

Okay, watch this 95.25 area very closely. If they take out the previous low...

Next stop around 75ish... Ruh-roh. They better come in here.

They got the stops for the Thursday low, this really should bounce. But when they sell, they sell, until the machines are turned back on. So maybe they don't bounce off this obvious area.

All I know is it is set up for a bounce right now.

Read the links in this (and scroll up and read the article if you want). It's a 'glitch' in human nature that I simply don't understand (and I've been studying it intensively for years) why there isn't total panic, riots in the streets, and so on, like in many other countries. We will not do anything, as a populace, it seems, until we have a total collapse, then we'll be left with ruins and rubbish, and we'll all be saying 'What happened? No one could have seen this coming... What bad luck this is.'

http://www.zerohedge.com/contributed/2013-03-02/cola-changes-pro-and-con#comment-3293759