Tuesday, July 13, 2010

Champion helps EUR? (2010-07-13 EUR analysis)


Spain won 2010 World Cup Champion. Would it help EUR too? Above is the 4H chart for Euro. Currently EUR is rising after touching the short term pitchfork. However, there is a great resistance at 1.2668-1.2721. Together with the upper line of short term pitchfork, this area is a sell area and even a potential short area.
If Euro surged to the area in 1-2 candlestick, the momentum would less likely be maintained to break the resistance. Then we can enter some short positions.

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