2007-04-26

EUR / USD view.

Hi all,
this is information based on charts from 3 hours ago, I am already long on EUR, but anyway.

1 hour chart:
We see nice channel. Any correction, will be limited from bottom trend line, which is on ~1.3500.
4 hours chart:
There is something like wedge. Well I do not believe that this figure will be broken on downside, but even it is, the downsize will be limited of trend on 1 day chart - 1.3500.

Update from meanwhile - the EUR fall to ~1.3589, and bounce exactly from the bottom line, where it supposed to.

1 hour chart:
I publish this, because it show something like "channel", which is broken now. Technicaly this is not channel, but the second line is just parallel to upper boundary. Some people will argue on this chart, but I do not know what it shows us, probably EUR will return to this "channel", probably not.
I do not think this chart can help us for trading, but observation is interesting.

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