2007-06-17

Last week EUR/USD was almost on non-changed.

First 4 day chart of EUR/USD.
We have long time support and resistance. EUR bounced from the support, and now it must go to the top @ more than 1.37. This is quite long term so do not expect it "tomorrow" :)

EUR/USD 2 days chart.
We have a triangle here, its boundaryes are the long time support and resistance from the recent top last mo @ ~ 1.3670. The triangle must be broken on the top, and we must have new major top. This top may be calculated using 4 days chart, and it probably will be @ 1.38 or more.

4 hours chart,
hopefuly, the EUR/USD go back in the falling channel, and heading up. The spike I market with yellow - 1.3480 low, is the current resistance. EUR need to go upper, because else, we will need to re-do the analysis. Well I am very optimistic for this, but we will see.

When I commented the 2 days chart I said "if the triangle is broken". Well before the triangle is broken, EUR/USD must first go to ~ 1.3510

(big resistance there, so EUR may not break this time, but first we will go to ~ 1.3510)


Now lets go to our "favorite" chart. USD index.
USD index is dominated by EUR, and EUR index is dominated by USD. Thats why those two indexes are opposite like mirrored.

So, USD raised to the resistance (almost like 4 days chart of EUR/USD), and already began to fall. It will fall to the support @ 81

EUR index is same as USD index, but opposite.

Finaly, the ratio between EUR index : USD index.
Basicaly same chart as previous two, and 4 hours EUR/USD chart.

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