Daniel Mankani "DynamicTrader – Trend Trading Dynamics" Trading for a living, systematically profiting from longer term trends.

28Nov/11Off

How the FX markets are behaving today? With ES gapped up and now up by 33 handles.

Its amazing, a report such as IMF bailing out Italy, makes the round, which is later denied by noon, but the rumor driven markets continue on?, what's going on here?

The fx markets moved are now beginning their round 3 and yet still no sign of reversal on the Emini. Round 1 began, when the markets gaped up wards for the currencies and the Emini.

The first attempt on the euro on friday's high, held well on the initial attempt, some consolidation and easing off, Round 2, towards the high on the second attempt gave way in round 2, but no relief yet on the Emini.

With the Emini now nearing 1194 in US trading, seems to be the tiring point for the day, and some correction into the close, looks like the order of the day, any further upmove from here, will see us heading towards 1205-1215 resistant zone, which could be the stopping point, and is pivotal, a sustained move above these levels, will signal maybe the IMF report has some credit worth on the story.

 

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