Wednesday, August 11, 2010

Slow drop (2010-08-11 EUR analysis)



Euro in 4-H chart had been beautifully supported by the pitchfork. However, breaking the red up-trend line, the 16-nation currency might not keep its original bullish condition and have a big chance to start falling. It would be a slow drop along the fork but not a volatile one.

MACD and EMA touches each other. Keep an eye on it and see whether they will cross each other. If they cross, a short-term rise should be following.

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