Euro versus the Dollar and Franc May 24th

FX Strategy Video > Currency Pairs Analysis

The EUR/USD broke down past the important 1.40 area on Monday, but did manage to pop above the level - forming a bullish hammer. The pair looks like it could bounce, but the pressure is tremendous on the downside. If the area breaks down - this will send the trend downward again. The EUR/CHF made all-time lows on Monday, but managed a perfectly-shaped hammer just under that level. This pair is decidedly bearish, and rallies have been selling opportunities over the last few years. It looks like the market may get ready to offer more.

Published on 23rd of May 2011
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