Dollar Versus Euro and Pound April 24th

FX Strategy Video > Currency Pairs Analysis

EUR/USD had a weak session on Monday as the world continues to worry about the EU in general. However, the Americans stepped in and bought the Euro later in the day to recoup some of the losses. With this being said, the pair looks weak overall, and it appears we could be forming a descending triangle as well.

The GBP/USD pair originally fell for the Monday session, but bounced again to form a hammer at the top of the latest move. The candle can now be a hammer - or a hanging man. Tuesday could be important.

Published on 23rd of April 2012
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