Monday, 4 July 2011

EUR/USD Daily Chart Trend Turns Up

Daily chart showing the past three months. The market has broken the down trend line, also the 18 and 40 day moving averages are crossing bullishly, indicating that the trend has turned up at this time frame. For me this is a signal to look for bullish edges on the hourly chart, but in this case I will wait until after the US Independence Day holiday.