Monday, January 19, 2009

Euro USD chart

Quick look at the EURO vs $...

Looks like at critical junction...

We had the break out at 1.3058 in DEC, now retesting that level..will it hold? Also descending trendline..a break above that should bring us a new rally leg... Trading below 1.30 wil lbring us back into the range we had November to December

If we get a test of 1.3058 and hold ..I will go long there, and also on a good break of the dotted trendline.

A rally in euro would also tie in with a rally in equities...targeting the underside of the wedges (9600 DOW, 4400 FTSE, 4900 DAX).

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