Open trading account 
The US dollar is on the defensive and it seems this will last for while longer or at least until there are more details available about presidential plans to bust the economy. NFP did not help the dollar but perhaps the FED will(Yellen's testimony in Congress). So where do we stand now?
While I do see that some currencies might go a bit further to appreciate(especially AUD & NZD) I have a hard time believing that EUR/USD is going to crack 1.0840 level. So far it didn't event reach it and it was sold a few times last week just above 1.0800 level, unable to hole above 1.0800!
On one hand I'm expecting the pair to be violently rejected at 1.0840 and than correct to at least 1.0690. But on the other hand, if that level is breached, the whole hell will come loose and we might not only see 1.1000 but perhaps even 1.1130
In any case, if it gets to 1.0840 I'm going short but if it corrects to 1.06900 I'm buying it. I have the same dilemma with USD/JPY in regards to 112.00 level. The time will show.
While I do see that some currencies might go a bit further to appreciate(especially AUD & NZD) I have a hard time believing that EUR/USD is going to crack 1.0840 level. So far it didn't event reach it and it was sold a few times last week just above 1.0800 level, unable to hole above 1.0800!
On one hand I'm expecting the pair to be violently rejected at 1.0840 and than correct to at least 1.0690. But on the other hand, if that level is breached, the whole hell will come loose and we might not only see 1.1000 but perhaps even 1.1130
In any case, if it gets to 1.0840 I'm going short but if it corrects to 1.06900 I'm buying it. I have the same dilemma with USD/JPY in regards to 112.00 level. The time will show.
