Euro

Friday 15 May 2009

Position traders:

137.50 would be an upside breakout in Jun Euro.
It just broke a trendline down from 14 July 2009
high. Use that as a buy stop.

Week opened at 136.54, the highest weekly open
since January. Price is currently lower, around
135. 90 area, which is above 50% of range, a plus.

Daily chart showing a shallow correction, possible
absorbtion, and price is right on the daily trendline
from its highs.

A 240 min chart is showing a probe under the
recent trading range low of 135.22, and has now
come back into range, another plus.

Still developing.

Use an initial stop of 135.00, if filled.