Business-Insider

by John Jagerson

The breakouts this afternoon have been dramatic to say the least. How long the USD decline will last is uncertain but right now it is time to redo some of our original price targets based on the breakout. In particular, I will spend time on the EUR/USD in today's video. This is a good opportunity to apply a fibonacci analysis to forecast short term overhead resistance on the pair.

Besides the EUR and other USD quoted pairs, I am still interested in a weak CHF. I think the USD/CHF is would be unreasonable in light of the overwhelming weakness in the USD. However, crossing the CHF with some other stronger currencies may produce the results I am looking for. I talked about this a bit in the daily video but will go into more detail on that in this afternoon's video.

To see the video, click here: http://www.pfxglobal.com/index.php?o...185&Itemid=149
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