The Euro made a huge drop on Friday and still has a plenty of room to go.
It stopped at a very technical spot, so I'll be looking at two areas to continue to the downtrend: 1.2420 with best timing before European open tomorrow and 1.2440-50 which may produce a reversal at any time before tomorrow or on Tuesday at the latest.

TL backtest at 1.2405 with couple of other things coming together there is a very short term opportunity, if any, in my opinion.

Pop into the close. Give it to me, baby.

Give it to me, baby.

So, the verdict will come back no indictment, and the market will pop and rally? It is acting like it is ready to explode to new all-time highs from here. Really? On news that may instigate nationwide rioting? Seriously?

It doesn't matter, this 'bull' has a long way to go to Dow 43,000. But when it did matter, here's the type of thing that would matter.

"US equity markets have traded above their 5-day moving average for 27 days - the longest such streak since March 1928..."










Source: http://www.zerohedge.com/news/2014-11-24/us-stocks-surge-best-streak-86-years

And yes, proportionally, the move after the 1928 streak is just abut the same as the move to ES 3400 from here.

The ES is soooooooooooooooooo ready to move. It's just waiting...

I can't imagine anything but 'up', but we'll see.

At the HOD. Three points and change from another new all-time high.

I just heard the announcement may not be until 9 PM Eastern, over two more hours from now. The ES will already be at new all-time highs by then...

So what they did today was a 30 pips drop off of 1.2405 zone (X) and then 20 points down after hitting 1.2416 (Y) within 20 area.
Now it's in the 40-50 zone. Intersection of the two key lines for this area is tomorrow at Frankfurt SE open.
Everything is shaping up nicely for this scenario to happen. Red TL begs for violation and potential double top is being formed right now.
Anyway being short now with reasonable stop is also a good option I guess, but tomorrow morning may bring an oppotunity to trade the final move into the zone.

Originally posted by MarcinO

The Euro made a huge drop on Friday and still has a plenty of room to go.
It stopped at a very technical spot, so I'll be looking at two areas to continue to the downtrend: 1.2420 with best timing before European open tomorrow and 1.2440-50 which may produce a reversal at any time before tomorrow or on Tuesday at the latest.

TL backtest at 1.2405 with couple of other things coming together there is a very short term opportunity, if any, in my opinion.

nothing makes me happier than seeing the trend resume ;)