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eur / usd update.

01/09/2011

We may be entering a bounce area in Eur as well. On the hour, we are still in a strong downtrend. There are opportunities to short against the moving averages on a 15 min chart or the boarder of the trend channel.

On the long side, watch for the 1.286 level to hold. I would not get all bulled up without a solid break and close above the moving averages or the trendchannel. RSI is showing a bullish divergence, but I mostly have that up there to be confusing because we can’t trade without our indicators. 🙂

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