(1,3060) The EUR/DOLL confirmed another session of consolidation remaining interior the inside day with 1,3110 – 1,2955 still the levels to follow in the coming hours. Only a daily closing below 1,2955 will confirm a direct extension of the decline toward the 200 days line, still found at 1,2848. The closing was however relatively strong last night above the top of the previous session. The indicators of the daily chart are still well negative but those of the s/t ones turned all above the line supporting further consolidation/ correction. While above 1,3010 on an hourly closing the EUR/DOLL should be able to extend its retracement toward the 200 hours line, now found at 1,3090 where we find also a s/t resistance line. An hourly closing above this lines will support a larger correction suggesting even a 1,32 overshooting!! The move up is still corrective. We suggest therefore waiting for an extension of the correction to go short!!
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Future Trend Research