Thursday, April 30, 2009

Euro negative divergence

I shorted a small Euro position earlier because of the overall strength being shown in the Dollar. There are a few possible explanations for its strength in the face of this extremely strong equity market, which we can talk about later.

Technically, we have a slight negative divergence in the MACD for the 4 Hourly on the Euro/USD...this, of course, is bearish, at least in the short term.

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