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Dynamic Trader Blog - Forex Chart Pattern Signals

Thursday, March 08, 2007

Euro

4 Hour Euro Dollar
Chart courtesy of Advanced Get. Data provided by ESignal.
Above is the Euro 4 hour chart. We have a trendline resistance just above where the price is right now. Sto is overbought but that does not mean we cannot stay overbought if price rallies. A break above the upper or lower trendlines would probably show further movements in either of those directions but price would require a catalyst and certain news items due out may provide just that.
There will be no update tomorrow. I will post again on Monday morning.