FUND NEWS: Houston, we have a bank account. With any luck, we’ll also have our brokerage account open today. I’m taking the morning off to wrap up the remaining paperwork. With any luck, we’ll have documents posted later today. Watch this space and your inbox for an update.
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The dollar tagged the secondary .886 (79.436) we mapped out last Friday [see: The Dollar’s New Digs]…
…as the EURUSD topped its Feb 1 highs on the way to a reversal at 1.3832…
…and, the USDJPY continued tracing out a pennant that is bursting at the seams.
It all plays well with our forecast. The tell would be the sharp interim reversal by ES (today or tomorrow) at 1750-1755 that we mapped out yesterday. The equivalent range for SPX: 1752-1760.
There’s no requirement that this reversal take place, but it fits our medium range forecast much better. We often look to the USDJPY for confirmation, but today it’s the EURUSD that’s the most helpful.
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