Posted by: rp on the 5th of Jan 2012 at 08:27 am
rharvey- yep, EUR/USD at an important level. i just logged on to point out that the support level that i was targeting for a while now has been broken. not only that but the breakout of the downtrend line that was impulsively taken out on tuesday has now completely failed. maybe i’m still putting too much stock into using the EUR/USD as a proxy for the stock market but it has been an excellent indicator for months now. i’d think that if the EURO doesn’t recover that support level very soon, then it goes lower and takes the market with it.
