My favorite scenario for the Euro is a drop to 1.1040 and then continuation to 1.1240-70.

Come on, get that TL!

BTW, gold has made over a half way from 1072 to my area.
http://www.mypivots.com/board/topic/8480/1/trading-discussion-week-of-7-26-15-to-7-31-15#131685

Just amazing ES action today and last night. Can't ask for more. Look at the 5-min overhead TL starting from the Monday overnight high! Look at that!

That Euro looks ready to blast off into outer space right now. I wonder if it will respect this 'bearish 'W2'' test of the bigger bearish ABCD. I suspect the odds have risen greatly it wants to 'blow out' to the upside. I would, of course, strongly prefer that it heads down. I think, though, the Euro won't weaken again until some bad news comes out of Europe and the crisis is obvious to all again, on the front pages. Then it can resume its inexorable march down to the 80's, then the 60's, then gone (in my opinion).

Let them play games for some time, Jim.
Then we will short Euro and nobody ill be able to save it.

Originally posted by jimkane

That Euro looks ready to blast off into outer space right now. I wonder if it will respect this 'bearish 'W2'' test of the bigger bearish ABCD. I suspect the odds have risen greatly it wants to 'blow out' to the upside. I would, of course, strongly prefer that it heads down. I think, though, the Euro won't weaken again until some bad news comes out of Europe and the crisis is obvious to all again, on the front pages. Then it can resume its inexorable march down to the 80's, then the 60's, then gone (in my opinion).

It looks like on of those days when after a very strong move there is almost no correction overnight. Something like that is usually followed by another strong move starting around European or American open.

Euro is advancing slowly, without significant corrections. It seems they want to send it up much faster soon.
1.1260 won't surprise me at all.

1.12 is a nice support. It may send it above the 1.1225 high.

I see area around 1310 as next magnet

qqq 60 – fascinating area. Has been trading up and down perfectly based on line and fibs. At the low today it is back at the median line, where:
108.22 – 111.46 = 1.128 at 107.81
105.83 – 114.39 = .786 at 107.66
So the question is, stall and coil, accelerate, or reverse?