Published on Fri, 19/03/10 |
Euro vs Dollar Daily Chart

Euro vs Dollar 19 March 2010
The rounded bottom pattern which was the portent for the euro’s weedy attempt to rise higher now seems to have broken down with Wednesday’s weak candle failing to breach the USD1.38 price handle and deep resistance above, with yesterday’s wide spread down candle signalling the reverse as it closed the session below all four moving averages once again. This bearish tone has now continued into the London trading session as we approach USD1.3560 at time of writing and any deeper move towards USD1.35 and below will then break below the bottom of the saucer formation signalling its demise and a continuation of the longer term bearish trend as a result. We can expect to see a break below USD1.34 early next week and should this be achieved then USD1.3 and below becomes a real possibility in the medium term, with USD1.25 a reasonable target longer term.
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Eurodollar News :
EU rescue plan for Greece appears to be crumbling
Triple (& some quadruple witching) = volatility = trading ops
Published on Tue, 16/03/10 |
Euro vs Dollar Daily Chart
Despite yesterday’s move lower in the euro vs dollar the rounded bottom on the daily chart continues to hold sway at present with the low of yesterday finding solid support from the 9 day moving average. However, as outlined in previous market commentaries any recovery for the eurodollar is likely to be modest and short [...]
Published on Mon, 15/03/10 |
Euro vs Dollar Daily Chart
Friday’s relatively wide spread up bar on the euro vs dollar daily chart neatly completed the rounded bottom formation for the pair, suggesting a further modest rise is now in prospect. Friday’s high ran into some resistance from the 40 day moving average which may place a temporary block on any short term move higher. [...]
Published on Thu, 11/03/10 |
Euro vs Dollar Daily Chart
Our anticipated squeeze higher in the euro vs dollar is taking longer than we expected as prices continue to consolidate in the USD1.3600 price region and with a lack of significant fundamental news this week all markets are trading in a listless manner. The rounded bottom formation now being created suggests that the squeeze [...]
Published on Tue, 9/03/10 |
Euro vs Dollar Daily Chart
The euro vs dollar continued to consolidate once again yesterday as it attempts to build a platform following the recent sell off which has seen the pair slump from a high of USD1.5150 all the way down to USD1.3420. With a complete lack of fundamental news on the economic calendar yesterday there was little in the way [...]
Published on Thu, 4/03/10 |
Euro vs Dollar Daily Chart
For the last two weeks the euro vs dollar has consolidated sideways between USD1.34 and USD1.36 following its rapid fall as a consequence of the Greek fiscal problems. In the last few days we have seen several tests of the USD1.3450 price handle which, to date, has held firm suggesting that this is now creating [...]
The euro vs dollar continues to trade in a relatively narrow range as it attempts to find some traction in the USD1.3450 to USD1.3550 price region and in the last two weeks the lower level of this price band is now building a platform of support. Friday’s narrow spread up candle failed to break above [...]