Lately I paid more attention to Gold, oil and minning stocks. Same time there was good rally in EUR as well. I miss it. In fact I did no trade this month.Lets check now EUR/USD 4h.
MACD is still positive, but it is close to negative cross. RSI is once again positive, but is headed down.
On the chart - there are a blue trendline act as support, as well brown line, which may be broken any moment (actually price fell to 1.55.60, and is broken now). The price may comming to blue line or little bit down to 50 day MA - 1.54.10 or 1.53.70. - I believe those levels will be good buy. Even now may be EUR going there, I do not think shorting EUR is a good idea.
From other side, pink line suggest there is a wedge in EUR/USD. The wedge suggest price of 1.47. I do not believe we will see something like this, unless Trichet do something stupid.
Today we will have CPI data from US. This may be the turning point, we will see where the EUR/USD going next.
Update:
Brown trendline holded until now.
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