Crude oil inventories were much lower than expected which boosted the price of oil. If oil continues to creep up, recent high correlation between EUR and oil could support EUR.
Good trades.
Wednesday, August 19, 2009
Sell zone for EURUSD hit
EURUSD sell zone that was first mentioned yesterday was hit. 50% retracement at 1.4247 provided sufficient resistance. Stop at 1.4275 recommended. Target 1 1.4170, target 2 1.4130. Williams %R in overbought territory has started to turn.
Crude oil inventories were much lower than expected which boosted the price of oil. If oil continues to creep up, recent high correlation between EUR and oil could support EUR.
Good trades.
Crude oil inventories were much lower than expected which boosted the price of oil. If oil continues to creep up, recent high correlation between EUR and oil could support EUR.
Good trades.
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