Posted on April 20, 2009 at 11:59 in Uncategorized by Pierre CharleboisNo Comments »

Trader sentiment is clearly favoring the USD and looks poised to continue.

We are now sitting at an important trend-line and should see some bounce during the late US or Asian session. Whether we will now see a larger recovery remains to be seen.

The pair is very oversold and I am left to wonder what the next move is. Overall I favour Dollar strength but what of the next week or so?