Forexzilla.org

Preparation for bigger correction up or just a pause before another leg down? Probably a few know the right answer but we’ll find it out in the next few days or even today if the Ifo index shows any susrprise at 8 AM GMT. Our feeling is that the path of least resistance is down. Again CTAs, US funds, investors, Japanese accounts sold Cross/JPY and bought USD during the Asian session. These are the biggest players in the forex market and if they buy USD so should we do. Sell the rallies in EUR/USD is the better strategy in the last few weeks. Resistance is @1.4810 and 1.4915. Support is @ 1.4690/80 (stop loss orders below) and 1.4630.