Euro Dollar Daily Candle Chart - 20th March 2009

Euro Dollar Daily Candle Chart - 20th March 2009

The aftershocks to the financial earthquake of Wednesday evening continued in Thursday trading of the euro vs dollar with a further wide spread up bar making it the 8th up bar in a row for the pair and there seems little chance of this reversing in the short term.  Indeed the dollar has not fallen so hard in a single day since 1985.

For today’s trading we may see the market taking a slight breather before pushing ahead next week.  When we look at the weekly chart over the weekend provided we see a weekly close above 1.3550 which is highly likely, given the bullish momentum already in place, then if this is indeed the case, we should see a squeeze higher by the end of the month possibly to retest the 1.44 region once again.

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