Tuesday, December 8, 2009

EUR/USD - sitting on this ice

I used this trendline technique that I used he actual bodies on the candlesticks and it is interesting that after the critical 270-pips slide in EUR/SD on Friday there was quite a shallow move today and it is hard to call this a good continuation signal.

One thing is for sure and that is the pivotal role of the 1.48 level which had been a great Support level since November. We are stuck still in the 1.48 --- 1.51 range and the trendline here actually gives a great buying opportunity signal witha stop below 1.48 - best 1.4740...

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