Monday, December 07, 2009

Euro Currency - Bearish Technicals



The Euro is beginning to show signs of weakness. In the above chart you'll notice the MACD bearish divergence which suggests that this market may be ready to head lower. Today we have our second close below a major trendline which began last March. When you combine the MACD bearish divergence with the breaking of the trendline, the odds of this currency selling off increases. We'll see what happens.

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