2007-05-11

EUR/USD big picture.

The trend is still up. We got rounded top as I "predicted".

We have small downtrend (brown channel), and two support lines - small one (pink) and long term one (blue).
Pink line could be broken, but could be not. Everything depends how you can draw it.

Blue support, we are not so far from it. Price is above both 50 and 200 day moving average as well.

What may happen, is the EUR/USD forming yet another big triangle in blue
(actualy, the triangle is quite formed already)

Finaly I need to say, there are some other bullish, but also bearish divergences, but they are now so mixed, that it could bring only confusion in the analysis.

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