The Swiss team publish another excellent report. We all know the key levels by now by heart.
Of note the AAII bullish consensus at contrarian levels. Interestingly, they also note the euro bounce possibility but ref the low volatility in the pair eurusd. I second this although this is in great fault down to the German team who last week scuppered every northward attempt by the euro buyers. From failed moves come fast moves i know but the thrust northward was blunted immediately by rumour and quote news flow so the euro continues to drift ever downward. No clear ending in sight just the knowledge than positive news flow would provoke a very decent technical bounce. Its a tricky area therefore to go short or long euro wise, for the moment.
Finally they sight continued commodity weakness as the most likely course. Without any further delay, here the report. Sumer silly season is upon us remember.
Rich
(7 votes, average: 5.00 out of 5)
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