(1,3049) The EUR/DOLL formed yesterday a positive day reversal but only a daily closing above 1,3035 will confirm a s/t bottom! We are not surprised by this move after it failed a few time to move below 1,2970, where it always found strong support. The move up we’re seeing is corrective. The indicators of the daily chart are still positive and this morning also those of the s/t ones are in positive area supporting the rebound. However, the indicators of the hourly chart are already close to the overbought area. Nevertheless we could see a retest of the 200 hours line at 1,6061 with even a possible overshooting. We stay on the sideline.
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Future Trend Research