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EUR/USD and EUR/JPY Look for Continued Downside Bias in the IntraDay Near-Term

Posted on April 7, 2009 at 9:30 in Commentary, Market Analysis by Tim Salem

Greetings again, Everyone!

We look to the “Master of Liquidity and Volume”, the Euro, and it’s “Cousin” Cross, Euro Yen, to see where we have progressed in accordance with the poor GDP Data Points out of the EuroZone.

We used this as a “Catalyst” to break the recent Bullish Momentum and Sentiment in the Near-Term, so let’s bring up the Hourly Views here.

Give them a Click for Commentary, and Post-Time is 14:30 GMT.

I shall return around 16:00-17:00 GMT for another Update… to see if any of our Downside Risk Levels have, indeed, been reached… or if any Dynamic Restance Levels have been violated back “north” to the Upside in favor of the Bulls.

Tags: consolidation, correction, EUR/JPY, EUR/USD, GDP, Gross Domestic Product, Price Support, pullback, resistance

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