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EUR/USD in Depth PDF Print E-mail
In this Weekly chart you can see the rollover point from 6/03, 10/03, 4/04 and the head and shoulders that built between 7/05 to 3/06. This area was solid support previous and the question you have to ask yourself now is whether a down ward channel or a Symmetrical Triangle is forming.


Pushing up to the Monthly charts shows us four months of higher lows, but highs for this month are well below last month’s so far. Using the GaP applied to the 1 Month chart shows a pretty large space between the 1 and 2 lines. This space tends to close up in two to three bars before moving on. A close below the 1.3060 area is the key to a test of the 50% Retracement line.


The daily charts are not oversold yet and plant of room for a test to the bottom before any strength or a move to the top come in.

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