HighSky (HighSky)
Currencies  |  April 05, 2013 11:57:00

EURUSD - total radical tapping from the bottom?

The main currency pair off with developments in the last week has got stronger the second time from the grip of its longer trend channel, which started at the beginning of February. Now eurusd is moderate downward trend and is close to the upper line resistant to this trend formation. Whether yesterday, indicated by an arrow in the chart, tapping the border last longer resistance also means the end of the fifth phase of the last two-month downward trend or not, could establish the shorter trend channel.

eurusd, daily comment

Humiliation of his resistance would give a chance to this scenario, but in the meantime we still finished fifth wave after neoznačovali. It is a fact that the dollar index for the last weeks very strong and soon also deserve more than the current correction.At this time, however, this would also mean that we would probably have started further accelerate stock indexes to new highs.

Josef Kvarda, HighSky Brokers, Inc.

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