EUR/USD longer term chart...
The 9:30 open, since breaking below the dowtrend line, the Euro has lost downside momentum and looks to be consolidating, I highly suspect this is a head fake shakeout/bear trap-GS/Papademos seem to be the catalyst.
CONTEXT is showing ES right around fair value, we'll take a closer look at our indicators.
ES since midnight EDT
ES during regular hours... Remember I said I wanted to see the lows tested and see how 3C responds, well at each of the lows (green arrows) 3C has responded as I suspected and hoped it would, further suggesting yesterday's/today's move in the EUR/USD is most likely a bear trap for Euro and market shorts. ES in the afternoon was leading positive, there was a slight negative that caused a pullback, but ES is still leading positive.
We'll dig in deeper to see the specifics in the next post.
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