EURUSD

Got those longs off just in time - I was having to use a 15sec chart to get that movement right. Anyhow, we are now moving down rather well and the bottom of the regression channel and the proposed expanding diagonal sit just below the monthly pivot in the 1.3480-1.3500 zone. Given this is also the area for last year's high, it is going to be interesting to see what happens. I do not mind if the price action continues downhill of course as I am naked short, but the long vs short storyboard will likely be decided there, so I am going to be on the look out for reversal patterns. For now the 24 pip range bar MMA is in a bullish formation but the 3, 6, 12 bar charts are all either cascading downhill or on the turn at present. It will take a break of 1.3489 to turn this larger chart, so catch up later if we get there.