About a week ago, the Euro gapped up on the China currency deal but it only rose right to a resistance level hence we basically had a confused market.Right now Im seeing Euro Dollar exchange rate as being even more positive then last week, it is lower but really more important is that it has not fallen alot. Within the context of 6 months of Euro gloom its actually acting positive.Ive no idea if it can last but just like last week the shares were dragged down, I think we could have some reversal to the upside. Im always interested to see how it actually turns outHeres the accompanying chart, look for 1.236 to be maintained otherwise it failed I guess
just realised, its probably a good idea to crosscheck this with FXE
Thats the ETF to trade euro dollar. Pivot points, volume and vwap when america opens is probably pretty significant, europe is less bearish on itself then usa is I think.
Right now FXE is gaining from s1 which matches a bounce from the lower negative trend on this chart
No, its a moving trend so I just chose that as the figure for 8am. It has not held and I would expect a negative market because of this failed optimism.
At the moment its just below the second line, looks to have failed and is now resistance but pays to keep an open mind
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Thats the ETF to trade euro dollar. Pivot points, volume and vwap when america opens is probably pretty significant, europe is less bearish on itself then usa is I think.
Right now FXE is gaining from s1 which matches a bounce from the lower negative trend on this chart
At the moment its just below the second line, looks to have failed and is now resistance but pays to keep an open mind