FOREX PRO Weekly July 16-20, 2012

I don't think this single news release should sustain as the recent rebound up failed miserably, the market correcting itself soonish seems logical to me, to the downside.
 
what news? I see no news

This upward spike is purely from the US retail sales news report.

released figure: -0.5%
forecast: 0.1%
previous: -0.2%

8:30am USD

Core Retail Sales report also:

released figure: -0.4%
forecast: 0.1%
previous: -0.4%
 
Very interesting how a slightly average to negative report coming out of US can push aside the multi euro country crisis which is still very real & not changing, which is why I don't think it will change much. Market will go down eventually, over the next few days, even if it will now be pushed to the 1.2330 resistance. I still see a chance for market to erase this line and correct itself to the downside today, and will not be closing my short shorts!
 
trying to remember sives justification for a retracement. i think any news at this price area is gonna cause too big a bounce
 
I am done for today, I suppose, but will wait for pullback if comes soon; if he wants down, must take 1,2260, otherwise I treat as pullback in the way up
 
Very interesting how a slightly average to negative report coming out of US can push aside the multi euro country crisis which is still very real & not changing, which is why I don't think it will change much. Market will go down eventually, over the next few days, even if it will now be pushed to the 1.2330 resistance. I still see a chance for market to erase this line and correct itself to the downside today, and will not be closing my short shorts!

i am totally with u on this, tho i am seeing differnet on the charts to what my logic tells me so im getting edgy. very good point about the news overreaction
 
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