Fr., Mar. 7

Big news are coming out at 8:30 today and it looks like the market is expecting the news to be bad for the US dollar. On the other hand there are divergences in many major pairs and at least a temporary reverse in the price direction is due. But the problem is that it’s impossible to tell when the reverse is gonna happen.

The euro has made a new 50-day high but today is Friday and there is a divergence on the 30 min. chart. Be ware of a pull back. On the other hand it’s not prudent to stand in front of a locomotive. Thus, I am gonna keep away from the euro today.

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