(1,3128) The EUR/DOLL formed on Friday a positive day reversal and last night’s closing above Friday’s top managed to confirm it suggesting further upside potential. The move up is favouring the retest of the s/t support line that the EUR/DOLL broke last week on the downside, now resistance at 1,3145 before the 200 hours line at 1,3160. The move up should be corrective, especially while the EUR/DOLL is below the 1,3185 level!! The indicators of the daily chart are however still well negative but those of the weekly one remain above the line for now, even well above the line. The indicators of the s/t charts are instead positive supporting further strength. However, in the hourly chart we have already potential negative reversals and a close to overbought condition. For the moment we suggest however waiting before again selling it; we prefer waiting to see how it will unfold in the coming hours!
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Future Trend Research