2007-10-11

EUR Bubble - 30m and 16h

Bubble or not, we need to take advantage of EUR/USD.
As we can see on 30min chart, there is a perfect uptrend channel now. We will try to buy at the (near) bottom, and to sell at the (near) top.

What confusing me, is that GBP/USD is down 80 pips, but EUR/USD is 80 pips up. There is something wrong with this.

If we look at todays news, I do not think they are not negative for the dollar. Nor EURozone news are positive. What we have is "normal" situation in USA, and lack of grow in EU.

However, looking at tomorrows news, as I see expectations, I believe they will be negative for EUR. We will see.
Now, 16 hours chart - if the price do not break old high, we will have... Yes, *double top*. Once again, we will see.

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