Euro Dollar Ketchup?

Good Morning Dynamic Traders,

The Cable made in excess of a 500 pip move on the downside yesterday. The EURUSD however, did around a 130 pip move. Generally the two pairs are closely correlated in their movements but currently seem somewhat out of sync.

The monthly EURUSD chart (below) shows price reached a strong S/R level and bounced off it. Just below it around the 1.21 area is a Fib cluster which will act as support too and not to far below that is the value index.

On the daily chart the steady down trend is apparent since July 08. More recenly, price appears to be range bound which may be profitable for the shorter term traders. This is one to keep an eye on for a break either side of the highlighted area.














Good trading

Bijal Shah

"Life is change. Growth is optional. Choose wisely."

Karen Kaiser Clark

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