Monday, November 30, 2009

Eur/Usd

The eur/usd has hit a major fibonacci level signaling a possible downturn, but at the same time is building a bullish pattern on the 60min chart. 4xSummit is waiting for the market to give us more information before taking a position. Gold continues to provide erratic price action and has broken out of its channel that it started at the end of October. We could see an increase in dollar strength and a flight of safety to the dollar in lieu of some events occuring overseas.

To the Summit,


4xSummit