Thursday, July 16, 2009

07/16 - SELL EUR/USD (BUY DXY)


Sell EUR/USD on a false-break of trendline resistance and 4-hourly bearish MACD divergence. The DXY has maintained support at a 78.6% fibonacci retracement at 79.18. The USD/CAD has stalled at 1.1143 (key fibonacci retracement) and Gold has paused at the 50-day MA. Overall, risk appetite looks exhausted at the moment.