Bears making their presence felt....

Tricky whipsaw price action yesterday, normally witnessed only during the full moon zone. I kind of anticipated that but it was really a combination of scenario 1&2. In hindsight, E$'s ability to only manage a high of 1.3029, way short of the DMA21 at 13065, indicates a powerful short term bear trend. It was confirmed by the subsequent sell-off to break 1.2935. Up till tis point in time, low had been 1.28916. Clearly the subtle USD resurgence has revealed itself. In view of that, one has to anticipate the possibility of E$'s price action in the months ahead.

Asia order book:
Stop loss: 1.2880/75 and 1.2845
Limit: Nil

Primary trend: Bullish
Intermediate trend: Bullish for 1.33/1.34 (unless 1.27447 breached...  this view is under threat now)
Minor trend: Bearish

Technically, intraday indicator are in o/s zone but intraday momentum indicators are all pointing firmly lower which has increased the probability of a trending market picking up steam. Expected range 1.2940/50 to 1.2800/30 (extended 1.2760/70).

E$ Daily chart - Staying below the DMA200 (Blue) again......

E$ Weekly chart - If H&S materializes, E$ is projected to fall towards 1.24/1.25