On Friday the Euro hit new high at 1.1470 as expected.
Apart from geometries shown below the structure of the move, let's say on M60, is very similar to patterns that has preceded previous correction recently.
It might be current level that will stop it for some time or 1.1520 after one more move up. If these areas don't hold the next serious level before low 20s is about 1.1750.

We may get some overnight bearish correction but I still count on larger drop.

Like to 80?

Originally posted by MarcinO

We may get some overnight bearish correction but I still count on larger drop.

I hope so. But I'd rather see 1.20 before the drop - I will just buy put and wait for some time in a nice pub before I decide to close it and buy a little island .

What's funny about the Euro, is that whatever the direction the moves are about 150-170 pips a day.

The Euro may rise up to around 1.1340 now.

I'm just joking. I don't think it's time for the down move to start yet. I'd say after Greece fully defaults and there is a Grexit in two weeks when the 'final' deadline hits, but we all know with essentially 100% certainty that 'they' will come up with some extension nonsense, and the 'final' deadline won't be 'final' at all. The Euro needs to do some more stuff, I think, before the time is right. This move to the low 80's, then maybe to the 60's and gone, that will be a process that will take time, I believe.

Originally posted by MarcinO

I hope so. But I'd rather see 1.20 before the drop - I will just buy put and wait for some time in a nice pub before I decide to close it and buy a little island

.

And there's another new all-time high for the ES.

2127.75. Ruh-roh.

2128.00. Super Ruh-roh.

Sure, I've got your point. The way their games line up with geometry is just amazing.

Originally posted by jimkane

I'm just joking. I don't think it's time for the down move to start yet. I'd say after Greece fully defaults and there is a Grexit in two weeks when the 'final' deadline hits, but we all know with essentially 100% certainty that 'they' will come up with some extension nonsense, and the 'final' deadline won't be 'final' at all. The Euro needs to do some more stuff, I think, before the time is right. This move to the low 80's, then maybe to the 60's and gone, that will be a process that will take time, I believe.

Originally posted by MarcinO

I hope so. But I'd rather see 1.20 before the drop - I will just buy put and wait for some time in a nice pub before I decide to close it and buy a little island

.

they had everyone waiting for that area just overhead where there are half a dozen fibs, but just couldn't get there yesterday. I was surprised by that, and thought they would manage it today. It's very possible it's set up for a gap and go to the downside Tuesday.