Monday, November 14, 2011

EUR/USD - Ignore the Noise

Ignore the noise and look at the big picture. Even while it may "feel" like the Euro refuses to go down, the weekly chart clearly shows a break of the uptrend that was in place since spring 2010. The subsequent retest of the trendline failed and price has resumed its downward trajectory. Based on this chart we should see 1.2800 by early/mid December.

No comments:

Post a Comment