Sunday, January 15, 2012

EUR/USD Channel Analysis


EUR/USD is a chart that should be heavily watched along side the /DX Dollar Futures. This chart is showing us a possible momentum shift about to happen in the EUR/USD to the downside, which is what I am expecting. If it breaks to the upside over Fridays highs, it would be real bullish in my opinion and signal a short term bottom. Only thing holding this from the downside trendline wise is the black downward channel. Keep an eye on this here going into the new week of trading.

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