Thursday, 25 April 2013

S&P 500 rallying in European trade, up trend channel suggests over 1600 possible in coming days

EUR/USD breaks upwards from falling wedge, in sweet spot for further rally

Daily chart shows the EUR/USD rallying from a falling wedge. Today's rally upwards through the 18 day simple moving average, which recently crossed bullishly upwards through the 40, indicates that the market is in a sweet spot for possible further rally. That's not a forecast, but a trading edge.