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EUR/USD Finds Consistent Gains Following Near-Term Break

Posted on April 23, 2009 at 22:14 in Commentary, Market Analysis by Tim Salem

 

Hello Again, Everyone and welcome to Friday!

With the Easing of Risk-Averse Sentiment with the Dollar and Yen Strength… the Majors have returned for Corrective Upside Bias in the Near-Term where we may simply see “Shallow” Pullbacks to continue on with the coordinating Trends.

The Euro, Aussie and even the Beloved Queen have all seen significant Appreciation in the Immediate-Term, and Sentiment looks to continue in this fashion… for now.

( In a brief Update, our “Yen Travelers” look to still try and reach the potential “Sell-Into-Strength” ideas we were working with since Wednesday evening… and the Keys are if the Dynamic Resistances can hold… or if they will simply find Violation to the Upside or Failure prior to reaching the Initial Levels in the first place. As of this Writing… all Four Units are caught in Consolidation, so nothing really “New” to Report…)

The Euro has certainly reversed course in the Immediate-Term… although in my personal view… this is not a Unit to throw a big Party for!

While it may see significant more Appreciation moving forward… we really need to take a look at our Larger-Perspective and see the “Relativity” of Price Action here…

Here is the  Daily, and our “ever-present Friend”, the Hourly… so give the Captures a Click for Commentary, and Post-Time is 3:15 GMT.

 

 

 

 

As always, please join me in a few hours at 7:00 GMT for the “Currency majors Technical Perspective” Report in the Technical Section, and we will see some Immediate-Term Analysis for our Major Pairs.

An Update on our Yen Travelers will also be due up to the Plate, so come back by for a visit!

:-)

 

 

 

 

 

 

 

Tags: appreciation, breakout, correction, currency, day, EUR/USD, euro, Europe, exchange, Fibonacci, forex, hour, Price, pullback, Rally, resistance, strength, support, trading, week

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