2007-03-06

EUR / USD update
EUR went to the middle support line and bounce from there.

Because EUR pass through the upper triangle line like hot knife through margarine, I believe the triangle is no longer at play. From here I expect EUR to raly at least to 1.3220 - 1.3240. I know, this is not a serious reason at all, but the cup and handle formation is finished. Price must bounce now.

Fundamentaly, at the moment, the EURo is not the strongest than USD. Check EUR index / USD index ratio - it shows that EUR was stronger last couple of days (but not forget, that the chart is from yesterday)


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