Site Meter The Lawyer Trader: Buy Signal On the Euro/Usd

Wednesday, July 7, 2010

Buy Signal On the Euro/Usd

I don't really like it, but I'm in it. The Euro rally that occurred last week on July 1st triggered a buy signal in the Euro/Usd. Personally, whipsaw comes to mind when I look at the chart but, only time will tell...you never know which signal is going to be the beginning of a huge move. Here's the daily chart:As for the stock market, I'm in cash right now and waiting for a fresh short signal or a buy signal. I can tell you that the path of least resistance is still down, so a new short signal will most likely be next..but you have to stay open to different scenarios playing out.

Hope everyone's having a great week so far.

TLT

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