(1,3265) The EUR/DOLL confirmed a strong closing above the top of Friday confirming therefore also the positive day reversal. We have a s/t bottom but this move up is corrective; however a closing tonight above 1,3281 could give some problem to our scenery!! The indicators of the daily chart are still well negative but those of the s/t ones are above the line suggesting further upside potential. In the hourly chart, but not only, we have already overbought conditions and potential negative reversals that should now limit further strength. Before moving lower it is still possible to see a 1,33 overshooting. We sold some EUR/DOLL here at 1,3263, ready to increase the position in case of a 1,3320 overshooting!!
Read the full report: EURUSD 09.10
Future Trend