Friday, June 25, 2010

Daily EUR Update: June 25, 2009


Minding the daily time frame and natural volatility (Unfortunately this software didn't grant me access to the ATR):

Price pressure is to the downside. We will see a lower EUR over the new few days. Confirmation of:

  • Perfection SMA bearish formation
  • MACD momentum reversal

Aside from the given fundamentals…

Contrastingly the Bull picture is gaining some footing:

  • possible 50 RSI support indicative of an uptrend (weak dollar)
  • Price pattern: If the downside is mild over the next day a lower high is feasible.
  • The widening of BB is encouraging for the increased volume giving more conviction to a bullish move


Short term bull for the rest of JUN: (look for that short term entry on the dips) I will expect prices on the EUR/USD to move higher in the month of JUL.


Alexander Lê
Managing Partner
Analyze Capital LLC

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