EUR/USD - Support at 131.71 held yesterday for a move into my target-zone between 132.72 - 132.92. With the target-zone hit I do expect the downside pressure starting to build. I'm now looking for support at 132.13 and more importantly 131.71 to break for the next decline towards the strong support near 126.00.
EUR/JPY - Has continued higher towards strong resistance near 111.52. If we will be able to reach or even overshoot resistance at 111.52 slightly remains to be seen, but you will want to play it safely in these lofty areas, as we have a very clear five wave rally of the 97.02 low and therefor we must expect wave 2 down to set in at any time now.
VIX Index - We are closing in on the mid-band line as the close outside the lower Bollinger Band was forewarning. However only a break above resistance near 20.50 will call for much higher levels.
Dow Jones Industrial Index - The slow rise higher continues with only small declines and important support at 12,735 seems pretty far away and only a break below here will relieve the upside pressure. The next strong resistance area is found in the 13,530 - 13,550 area.
NYSE Composite - Have tested the resistance line from the 2007 high through the May - 2011 high at 8,327. The resistance line held firm, but we need a break below 7,898 to relieve the upside pressure. However one of the two will have to give away soon.
EUR/USD - Support at 131.71 held yesterday for a move into my target-zone between 132.72 - 132.92. With the target-zone hit I do expect the downside pressure starting to build. I'm now looking for support at 132.13 and more importantly 131.71 to break for the next decline towards the strong support near 126.00.
EUR/JPY - Has continued higher towards strong resistance near 111.52. If we will be able to reach or even overshoot resistance at 111.52 slightly remains to be seen, but you will want to play it safely in these lofty areas, as we have a very clear five wave rally of the 97.02 low and therefor we must expect wave 2 down to set in at any time now.
VIX Index - We are closing in on the mid-band line as the close outside the lower Bollinger Band was forewarning. However only a break above resistance near 20.50 will call for much higher levels.
Dow Jones Industrial Index - The slow rise higher continues with only small declines and important support at 12,735 seems pretty far away and only a break below here will relieve the upside pressure. The next strong resistance area is found in the 13,530 - 13,550 area.
NYSE Composite - Have tested the resistance line from the 2007 high through the May - 2011 high at 8,327. The resistance line held firm, but we need a break below 7,898 to relieve the upside pressure. However one of the two will have to give away soon.
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