Friday, May 20, 2011

EUR-USD Technical Analysis - 20 May 2011

The EUR-USD bearish signal perspective is indicated by the declining sideway trend of the chart. This downtrend may take months or event years to progress until the previous support level at 1.1762 and it is shown on the monthly time frame chart of the EUR-USD.

The sign of US economy keeps on improving, as there are more jobs. The implication of this will strengthen the US dollars and may add up to the acceleration effect of the EUR-USD downtrend momentum. We will see what happens in a couple of months time from now.

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