Saturday, October 04, 2003 EURUSD: Weekly opening around 1.1460 Weekly closing around 1.1570 As we see, on the longer term charts we still got euro going up. So for now there are still no serious concerns about the Fridays' sell off. However, we are going up without any more or less serious correction for one month now (since we reversed near 1.08). I am not saying 1 month of move in certain direction is what it takes for market to take corrective move, but on the other hand I cannot say that we are going to resume the move up right away. Friday action sometimes brings in confusion, so for now, in order to say whether I am going long or short for the next week, I will watch the market for the coming 2-3 days. It's still too early to short now (need more confirmation), and not the best time to take longs as well. I think couple days will clear the situation. Unless of course we are going to get into flat market. Same situation is observed with the rest of the majors. This may be the Friday confusing market, and may be the real thing. In addition there are 2 euro crosses I will be taking closer look at in the beginning of the week - eurgbp and eurjpy, but little later about those two. Meanwhile I will soon post here a table with possible initial targets for the near future (1 week - 1 month) in either direction, i.e. what are the targets if we are going up, and what are the targets if we are going down (once again, I will need 2-3 days at least to take any position on majors and decide which way to trade, so keep yourselves updated).