djia : resistance at 7427, page-3

DJIA : It has been pointed out in my previous postings that that we should keep an eye on EUR/USD. It is because there is a positive correlation between the movement of DJIA and EUR/USD. It is likely that EUR/USD is the leading indicator in the recent movement of DJIA. Right now the market is retreating from its monthly high at 1.2637. I have just posted the following in various forums and it is worth to take a look. Part of the posting has been deleted on purpose in order to avoid trouble in this forum.


Hong Kong XXXXX 10:42 GMT March 11, 2009

Sell EUR/USD
Entry: Target: Stop:

EUR/USD : Resistance at 1.2835


..... the upside targetings points are 1.2800 and 1.2835. It is likely that we have seen the monthly cycle high yesterday at 1.2823. ...... suggests that the market has a tendency to trade between 1.2363 - 1.2835. Greater effort is required for the market to move one step forward from 1.2835 to 1.3306 ..................