Quote of the day:“Everybody gets so much information all day long that they lose their common sense.” - Gertrude Stein
Good morning. The dollar is taking a breath – recovering some ground across the board, especially against the euro, its major counterpart. Gold pulled back after reaching a fresh high yesterday and the equity markets closed red on risk off trading. Former EURUSD intraday support at 1.4430 has been breached, so it wasn’t good for my last plan of looking for a buying opportunity on pullback. The US Initial Jobless Claims is one of today’s most important events in the FX Calendar
Now that the euro is back below resistance trendline connecting previous lower highs, a good (technical) reason to buy it is no more valid. Let’s take a look at some charts and see if there are any trading opportunities developing:
Dollar
US Dollar Index Daily Chart 7-28-2011
US Dollar Index Weekly Chart 7-28-2011
Euro
Euro Index Daily Chart 7-28-2011
EURUSD
Euro Vs US Dollar Daily Chart 7-28-2011
EURJPY
Euro Vs Japanese Yen Daily Chart 7-28-2011
EURGBP
Euro Vs Pound Sterling Daily Chart 7-28-2011
CHFJPY
Swiss Franc Vs. Japanese Yen Daily Chart 7-28-2011
Have a good day and happy trading!
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