Euro vs Dollar - Daily Chart 12th February 2009

Euro vs Dollar - Daily Chart 12th February 2009

I’m afraid my advice is the same as yesterday and for the last few weeks – I suggest you stay out of the euro vs dollar for the time being both for intra day trading and for longer term trades. Until we see a clear signal on the day, I believe the currency pair is deeply unstable at the moment, and is still closing in on a pennant pattern on the daily chart. I will be looking at the weekly chart at the end of the week, to see if this tells us anything new. So please be patient and stay out! I have just updated the euro to dollar site with the fundamental news out later, with the US carrying more weight today than that in Europe.