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FOREX     EUR/USD Stabilization gains contours (forextrader6)

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forextrader6     posted : 07/03/10   08:04 pm

Stabilization gains contours

The euro is working in comparison to the U.S. dollar continued response to the requirements for a technical Up.
Already in the past week, we had pointed to the constellation in the weekly chart.
Already in the past week, we had pointed to the constellation in the weekly chart.
The candle with a small body, or the almost ideal typical "doji" of the previous weeks has been recently confirmed by another "doji".
The latter took place here, even within the trading range last week, so that an "inside ascertain week is" on. The current weekly candle - so far a so-called "hammer" - completes the constructive Candlestick constellation. All these phenomena speak for a changing balance of power between bulls and bears. Other key points in this chain of reasoning are the most recently reached a record high level of EUR-speculative short positions and the positive divergence on the part of the oscillators Stochastics and RSI on a daily basis. Even the trend-following MACD has turned in this time window to buy now ". The first objective is aimed at relaxation resistance range from various high and low points at 1.37 / 38 USD. Perspective, however, we expect even a test of the 200-week moving akt. (at 1.3888 USD) and the bearish trend since the beginning of December 2009 (current at 1.3956 USD).

forextrader6     posted : 07/03/10   08:09 pm

Stabilization gains contours

forextrader6     posted : 07/03/10   08:10 pm


click to enlarge

Stabilization gains contours

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