Wednesday, September 14, 2011

The Euro Remains Volatile - September 14, 2011

The EUR/USD had another volatile day yesterday. The market attempted to push higher after failed to make a break below 1.3570.
However, the market also failed to make a clear break above 1.3735 resistance and traded lower again. It hit 1.3621 earlier today in Asia. 
The model is neutral in the near term. As long as price stays below 1.3735 the overall intraday forecast remains to the bearish, possibly towards 1.3400.

Posted by David Frank, Avafx