A lot of traders are bitching about Draghi today whose comments, as you probably know already, launched a huge short squeeze on the EUR/USD. What few are talking about however is his impeccable timing as being a Euro vigilante had become an extremely crowded past time as of late.

Here’s a snapshot of Draghi on the bridge of the ECB  headquarters. As you can see he is dressing the part as he knows that things can get messy once currencies make a sudden u-turn turn.

Well, as the old saying goes – one persons pergatory is another’s heaven or the other way around. The big move in currencies punched a lot of our pending setups toward their [...]

I’m seeing a lot of fence hopping today which not only took out a few inflection points but also triggered some of the setups I proposed yesterday. Let’s review where we are:

The spoos sliced through their daily NLSL and not only that – we are now officially trading below both the 25-day and 100-day SMAs. That’s pretty bearish – even if we snap back here we’ll have a trifecta of resistance to deal with.

The volume profile chart has us now almost below that volume hole which may have offered some hope to dip buyers. And as you can see there is plenty of juice below leading into 1300. Which is also near the lower 25-day [...]

No lack of headlines feeding the Euro drama queens out there – which of course makes for some adventurous trading. My weekend warnings regarding the short term seem to have come to fruition. So let’s take quick stock of where we are, after which I have a bunch of juicy setups for you guys.

This morning right before the open I sent out an email to all my intrepid subs pointing out the NLSL at 1339. Turns out we breached it and then snapped back right above.

I should perhaps point out that the Mole was painting some nice reversal arrows, congrats if you caught the swing back up. Now, I’m not sure if she will hold as there is new [...]