Tuesday, June 8, 2010

Daily EUR/USD update: June 08

15 minutes chart:

The pull back is on its way already from the break out into the 1.20 range. the EUR/USD
has been in a tight range the past two days and is deciding on 1.19 support.

The question at this point is if this break out to the upside (of the resistance of trend channel + 2 STD BB)will lead to lower prices and break support, or is this "big break" out is meaningful and continue to move up to 1.22 range.

As Hai puts it though, where prices touched 1.20 is most likely insignificant considering the short nature of 15 minute charts and not seeing a full close outside the range.

I'm maintaining for now. My play will take a few days to weeks to play out.


Alexander Lê
Managing Partner
Analyze Capital LLC

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