EURo Trading...

[Nasnelle-FX]

We are looking at a bearish trade able scenario on this pair as the current and secondary trends are lined up to support this view. As the market finds itself in a consolidated state within the Bearish Current Trend, with immediate support at 1.1566 and resistance at 1.1585 - 90.

The daily charts remain bearish, and with all momentum indicators pointing lower. Also note the continuation H&S pattern.

Strategy for today is to sell on up-ticks.

P.S. 1 hour charts is used on all updates.

[Nasnelle-FX]

The daily down trend slowed down for now, failing to break the 1.1430 support level. Daily charts shows overbought scenario now, and could mean that we are facing some kind of corrective action for the next session or so. This currency is still being in a bear trend. Note that we are not in a tradable scenario right now, as the market is trading out side the bear\bear trend line.

US data should confirm the strength and liability of the economic recovery.

Trade strategy will still remain at sell on up - ticks.

Good trading