(1,2900) The EUR/DOLL confirmed a session of consolidation remaining interior Wednesday’s range forming a new inside day with 1,2985 – 1,2845 the levels to follow in the coming hours. Only a daily closing below 1,2845 will support further direct weakness suggesting a move toward 1,2750 before 1,25!! Also yesterday the EUR/DOLL managed to hold above the 200 days line, still support at 1,2880 and while above we still feel there is a great chance for a decent rebound, a corrective one however!! The indicators of the daily chart are still well negative with bullish divergences confirming the negative tone. The indicators of the s/t charts are showing a mixed picture suggesting some consolidation/ correction. While above 1,2880 on an hourly closing we favour another test on the upside with the 200 hours line at 1,2961 the possible attraction. The EUR/DOLL is still showing a potential reversed S_H_S formation with the neck line now at 1,2955. We wait for a decent rebound to sell!
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Future Trend Research