EUR / USD Bearish?
Submitted Sun May 29 10:47:17 2011 EDT
How's it going? - long time no see!
I would have thought Slightly Bullish USD too, really.
Though looking objectively at EUR/USD on H4, it's beginning to look somewhat more Bullish - though perhaps just Stop Hunters Collecting Short Stops on Friday.
Monday / Tuesday will be interesting, though I think most pairs may well stay somewhat ranged in.
With no clear direction for some time.
I think USD/CHF as a correlated pair (inversely) with EUR/USD provides significant support for the Euro.
As USD/CHF is rather Bearish indeed. Not much Support to be found. Though one would think it might be nearing it's limits. (seems like quite a bit of support @0.84 - Oanda Open Order Book)
Do you review Oanda's Open Order Book for reference from time to time? I find it helpful.
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