Tuesday, July 22, 2008
July 22 EUR USD trend line breaching
Watch this short term rally push the Euro around, I bet it is short lived. 
Targets of 1.569 and 156. then if we break that and the US markets are still holding up possible 1.55 to .54
We shall see, this is still in a powerful trend.
Feds spigot is still wide open into the market place and getting into the Fannie mae and Freddie Mac will just increase the long term pain to the markets and lower dollar. Expecting a rebound on the Euro soon.
July 22 Ready to Pop USD JPY
In a major congestion area, looks like it is ready to pop. Possibility of testing 108++ we shall see as this rally settles and oil bounces back.
If fed raises intrest rates we could see a quick bounce up to 110.
We shall see. Lending is tightening again as banks see the 4.10 ten year.
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