Tuesday, June 28, 2011

#USDx and Euro Update

Both Euro and USDx have changed the main move of the day as expected. Also, as stated on my earlier posts, there is a breakout gap that shall be covered on the Buck @ 74.77. This level will become support.

From the 74.77 level, USD should resume its reversal pattern.

Likewise, both EURO and the Franc, have left breakout gaps earlier on today. Those gaps will be covered sooner than later. The support (gap bottom) for the Euro will be 1.4370. However, this level should be taken sooner than later.

Once the Buck reaches this support level (74.77) Euro shall resume its drop as well.



The 30 min. chart demonstrating a channel breakout as well as the breakout gap left behind. A position in the direction of the main move of the week was established.

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