Comment by Jason on April 29, 2012 at 9:34pm

Hi Raj

Thank you for the input.

Your projection looks even more intimidating than last week ?? ha ha.

But nevertheless, appreciate the input and guess we will all try to see what we can do.

Take care and good luck.

Comment by Jason on April 29, 2012 at 11:36pm

Hi Raj

I read your previous postings on the big turn date on 23 April 2012 and you have indicated that a lot of pairs are forming topping patterns / have topped and are doing pull backs into May..

Do you forsee the USD strengthening in this instance if the big turn date is proven correct ?

 

Comment by raj patel on April 30, 2012 at 5:43am

Hi Jason, Thanks for your remarks.  The heard mentality in this blog and elsewhere is one of -neg direction for eu and gu looks like many here are short of these pairs. smart money is chasing the clusters of stops in region of 200/300 pips at this level once taken out the smart money will not buy any more shorts and price should correct. topping can last for up 2 weeks from first target when new highs are not reached. if you are looking to short then wait for price to fall beyond the point of no return (break in up trend) in between you will only see a correction within the up trend.if shorts continue to accumulate even more then price will move further up.

Comment by Jason on April 30, 2012 at 7:08am

Hi Raj

Thank you for your comments and views.

Think you have a valid point there.

People are generally short the majors and are all looking to sell.

So this upward stop hunt can be quite huge and substantial.

If this is the case, your projection curve may fit for majors like EUR and GBP...but of course, we will have to wait for the markets to show us the direction.

Thanks for your input again and take care.

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