Chart of the Day – EUR/GBP
(Chart courtesy of FX Solutions’ FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; 50-period simple moving average in light blue.) 8/28/2009 – EUR/GBP – After traversing up a dramatically steep parallel uptrend channel for the past week and a half, price action on EUR/GBP, a 4-hour chart of which is shown, has finally shown signs of a potential bullish exhaustion by making a tentative
Comprehensive FX and Futures Daily Research
Daily Market Commentary EUR/USD Climbs above our 4th Tier Downtrend Line The EUR/USD has popped above our key 4th tier downtrend line after the combination of better than expected U.S. and British GDP data with an encouraging EU Services Confidence number has motivated bulls to re-enter the risk pool. The S&P futures are knocking at the door of their previous 2009 highs while the 30 Year T-Bond futures drop like a rock. To top the cake, gold is registering an explosive move to the topside.