Friday, December 11, 2009

USD/EUR 11/12/2009

At our audience request, we chart G7

analysis as well, join us today for our first EURO brief Cheers!!

USD/EUR Long term analysis, It looks like a trend reversal and we have sell signals triggered by MACD and a bearish trend RSI, not be strongly confirmed yet as the price is trading within the Ichimoku cloud and the cross over of Tenkan-sen downward Kinjun-se is weak as it happened above the cloud support, Fibo retracements showed that it just touched the first down to 32.8% support, should wait for the Japanese trend confirmation





INTRA day-
USD/EUR Intra day study, not so much to infer here, a clearly bearish outside the trading channel of 1.46-147 pattern confirmed by a negative MACD reading, Support settled along with the Bollinger inferior band 1.4596 support, RSI deeply in oversold but no signs of the bears loosing momentum with negatively skewed rate of change, probably a positive divergence formation coming in, recommendation, close out long positions




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