Sunday, July 5, 2009

Downside pressure?

I feel it is rather significant that the EUR/USD closed below 1.4000 on Friday.

Usually, the price will spring back to around 1.4000 when closing.

However this time, it moves lower instead.

I feel there may be downside pressure to this.

Alternatively, it can simply be due to the low volumes from a US holiday.

However, with the drop in oil and S&P500, i am rather downwards inclined.

I hope to target my previous trendline if nothing unexpected pops up.




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