EUR/USD

Keeping a weather eye on the EUR/USD trade over the next few days as its forming a triangle which [on a Daily view] is showing Bearish divergence in MACD and RSI.  Shown here on the 60min. but you get the picture.   As Ashraf Laidi has been quick to point out, crude has been unable to trade and stay above $80/brl as he believes demand [or lack of] is finally catching up with pricing.  Cautious comments from retailers regarding their 4Q expectations is lending the USD some slight strength and the markets overall parabolic rise is [in my mind] unsustainable here.  I shorted ES_F Sunday evening @ 1098 and again @ 1112 yesterday; covering all this morning ahead of the PPI release.  I have now re-shorted @ 1104.50 and will sell further @ $1112, 1118 and 1123.  Will cash it in @ 1135 or under a 4% loss if that were to come to pass.

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