EUR/USD

Yesterday the fall from the sky for the Euro continued. The low of the hanging man candlesticks pattern was broken and if this break is confirmed today we can expect further dollar strenght. That fact that even Bill Gross (PIMCO’s boss) turned bullish on the dollar is extremely important. It seems that this time politicians and central bankers have understanding and agreement that the US dollar slide is damaging the world’s econom. Watch the support @ 1.5800 as well as 1.5700 and 1.5610.

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This entry was posted on July 17th, 2008 and is filed under Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or Trackback from your own site.