Tuesday, March 13, 2012

EURUSD

The EURUSD moved lower the last week or so. If we take a look at the EURUSD chart we can see first the down trend, marked with the big red arrow pointing down. This trent seems to have stoped somewere, where the other red arrow pointing up is. It seems like the EURUSD is in an uptrend, but still we saw the Euro go down the last few days.
The orange line is clearly a support and resistance level. Right now i would stay away from the Euro.