Daily EUR Update: June 25, 2009

THE DAILY 3 MONTH



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
  

SUMMARY:

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.


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Alexander Lê
Managing Partner
Analyze Capital LLC
email:le.alex48@gmail.com