Euro Versus Dollar and Yen August 21st

FX Strategy Video > Currency Pairs Analysis

EUR/USD fell for much of the session, but managed to bounce in order to form a hammer just above the 1.23 level. This area looks as if it wants to act as support, and the uptrend line from the rising wedge certainly isn't hurting anything. The 1.25 zone above looks like it might be too much for this pair though.

The EUR/JPY pair did much the same, but the support looks temporary at best. The 100 handle should be massive resistive, and we need to see a move below the rising trend line in order to start selling this market.

Published on 20th of August 2012
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