An overview of the
currency markets by 
Hello.
We saw some fireworks today across the majors as the EUR/USD spiked almost 500 pips for the day. This week alone has seen a 1000+ pip movement in the EUR/USD.
The uptend fiddled around the 50% Fibo line from the top starting 7/15/08 and the bulls took the pair and ran with it.
Watch for some pullback and retracements as the European session opens for the day but look for the pair to potentially hit the 61.8% Fibo level up in the 1.4621 area. We also can look at smaller time frames to help us understand the inner workings of the current wave.
When the timing is right, we will look for potential tops and potential turning points to explore - so be sure to keep checking back with us on ‘The Trader’s Edge’.
In the meantime, apply your money management and use your stop loss.
Good luck.
