the EUR/USD continues to play out as per primary scenario and should be the main catalyst for lower equity prices this week (although you have my word that the media will retrofit any sell-off in equities with whatever reason de jour they decide to come up with). this is the updated 4 hour chart with the 3 previous 4 hr charts from last week. if you zoom into the 60 min chart (not shown here), it looks like the EUR/USD broke down from a bear-flag that formed on friday which, if it plays out, should get prices much closer to T1. however, let’s see what happens tomorrow morning.
fyi- my posts will probably be light this week as i will be out of town on a semi-vacation and working off my laptop but i will try to post any commentary or charts that look compelling.
