Observing our last forecast and if you followed the eur/usd bear collapse from our pinpoint resistance at 3659 the market has initially satisfied our profit target 2 (pt2) at 1.3333. As described — Dollar Index divergence was accurate and our Primary Movement Timing Program (PMTP) correlated particularly and more precisely with the GBP to the moment. We participated in the 90 pip bear move down for the GBP from 7am PMTP.
I have decided I am not going to overlay and mix any sequences for our future PMTP announcements. This is a matrix that effectively defines uniform time structures and there is no need to mix.
PMTP listed today at 2pm NY ET (moderate)
Inasmuch the E/U has moved +500 pips in a few days we will stand aside barring any geopolitical news that may impact it and allow technical performance to be absorbed or target our extension at 1.3269 area or better. I will pay attention to the GBP for lower bear targets at 1.4477-49 and 1.4225 but certainly we are at a key pivot point for the GBP so any bear entries will be low margin with tight to zero stop on attempted breakouts downward. I do not desire any bull entries on the GBP at this juncture, regardless of the pivot potential and I am not bouncing the euro against the recent technical move.
Britt
