Forex Investment and Currency Trading

Yesterday the equally weighted EURG10 Index closed below the head and shoulders neckline and it is now below the high from November 2007. The pattern suggests a 3.5% move lower for the EUR on an equally weighted basis.

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Short-Term Outlook: Breaking Above 1.0415
USD/CAD briefly broke the upside of 1.0300-1.0415 trading range, but failed to test 1.0495. With the hourly studies losing some upward momentum near overbought levels, resistance at 1.0452 and 1.0495 is expected to attract short-term selling interest for a test of support at 1.0375. An hourly close below this level would [...]

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The USD dollar has come under significant pressure over the last week, as the market refocuses on the weak state of the US economy. However, from a technical point of view, the USD index has clearly broken out of its down-trend, with numerous levels of significant support likely to deter an extended period of additional [...]

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