Saturday, March 27, 2010 12:09:03 PM
Re: EURO - Room to go?
Yes, it does seem that the EURO still has room to fall, but the charts are getting technically biased for a rally at this point.
More specifically:
1 - The EUR:USD chart has reached its midline of its bearish channel, which also happens to be the very ultimate value of Fib's level at 61.8%.
2 - Also, the DAILY USD chart stomped the second rally leg right at the expected channel border.
OVERALL: Taken all together, all of these technical convergences favor a rally of the EURO, IMHO:
- Dalcindo
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Message in reply to:
seem like EUR still have room to drop
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- Dalcindo
Yes, it does seem that the EURO still has room to fall, but the charts are getting technically biased for a rally at this point.
More specifically:
1 - The EUR:USD chart has reached its midline of its bearish channel, which also happens to be the very ultimate value of Fib's level at 61.8%.
2 - Also, the DAILY USD chart stomped the second rally leg right at the expected channel border.
OVERALL: Taken all together, all of these technical convergences favor a rally of the EURO, IMHO:
- Dalcindo
--------------------------------------------------------------
Message in reply to:
seem like EUR still have room to drop
--------------------------------------------------------------
- Dalcindo
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