Thursday, April 14, 2011

EUR/USD Trend Channel suggests a move above 1.45

A simple 4H chart suggest we see some more filling the 1.44-45 range before a continuation along the trend above 1.45. My guess is the large intra-day swings we saw in the recent days were meant to shake off the weak longs and get more small fish that shorted on the move below 1.4450 on the boat before the true move above 1.45 starts.

1 comment:

  1. I've been watching the Euro Steadily Climbing. Wondering how its going to effect exports in much of the Eurozone in the upcoming coming quarter. Should help the U.S. with GDP numbers if these levels hold or rise more!