Last updated: Tuesday, February 23, 2010
A fresh 25-Year low now puts the monthly RSI below 30, and at current levels, a major upside correction is sure to unfold. Shorter-term and medium-term technical studies also confirm the need for a bounce, which at a minimum should produce a 10 big figure jump back towards 1.8000. The projected ATR low for the cross comes in by 1.7050 on Tuesday, and as such, we will look to take advantage of the current dip to establish a very playable counter-trend position. STRATEGY: BUY @1.7055 FOR AN OPEN OBJECTIVE; STOP 1.6925. POSITION SIZE SHOULD BE 3X EQUITY.
