2008-01-07

EUR/USD - daily and weekly

EUR/USD - 1 dayWe have a bottom in place - 1.43. I thought the bottom should be @ 1.42, but it bounced before that.
The old uptrend (blue lines) is broken.
We may have double top forming, however I do not believe it.


EUR/USD - 1 weekHere we have master trend - blue line, the old wedge is now support (brown). The brown support was tested (1.43) and we hopefuly have bottom in place.
We could or could have not a double top (orange).
Note upper blue line. Current price is ABOVE the line. This means the upper blue line is NOT a resistance, at least not yet.

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