First 4 hours chart.
the EUR raising long term, in its healty channel (blue lines). This channel is long term, and depending how we calculate it, we may say it began 15.FEB.2007 or even 11.JAN.2007.
The purple line is very important. It was upper boundary to previous channel, and now is resistance. It hold before (13.APR.2007), we will see what will hapen now, I believe it will hold, but since it was not tested till now, we can not be sure what will happen.
The three lines, both blue channel and purple one are parallel (if they are not, is because i drew them wrong :-) )
If you read my analysis often, you may be noted, I newer speculate on RSI and MACD. Well, currently, 4 hours MACD histogram going down, and is quite oversold.
this chart is posted to show, that there is support level @ ~ 1.3560 .
It hold 2 times now, it probably will hold one more time :-)
Even, as I said in previous post, I closed my short possitions, you must understand, that we need to wait till end of the day, and see the USD index chart again, because there are important situation there (see my post here - usd index bottom is near unless is not).
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