Tuesday, November 9, 2010

Are HFT's supports @1.36 EUR? Refer April 15th 2010 (update 1)

We are getting close to a possible trip point (1.36) for a major sell signal via the EUR which could extended into other risk sells; the similar situation occurred prior to May 6th 2010 flash crash when the EUR was being sold in tandem with the Dow and S&P500; as Rick Santelli said "ping ponging off each other".

The April 15th 2010 date is what I have called a HFT support line (1.36), in which the EUR fell into steady selling, which kicked in hard on the May 6th 2010 'flash crash'. The EUR/ major index sell off ended on the 7th June 2010 (EUR @1.18) before rebounding.

Note Dow line trailing EUR on risk averse selling.

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