Saturday, July 11, 2009

EUR/USD Seasonality - Monthly chart

Here is clearly shown the EURUSD is slowly grinding up - just to see resistance at the 21-month MA which is evident from the chart that has a pivotal role...

if the seasonality patterns could provide a guidance we might either have an exhaustive upsurge and then drop or we drop right away...

the most difficult scenario is to have an uptrend once a monthly close above 1.44/45 materializes..
Large traders(green COT) are builidng long positions - that makes an uptrend possible..

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