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Tuesday, April 26, 2011

EUR/USD and the USD-Index - Are we there?

With a slight new high in Europe trading hours the final rally hasn't found it's final peak just yet, but we are very very close to the top, if not already in.

I do see the possibility for one final move higher close to my ultimate resistance at 146.95 as long as 145.44 is not broken. A break below 145.44 would be first indication that the top is in place, while a break below 144.92 will confirm the top.


Looking at USD-index we can see that the final decline from 81.44 has become a ending diagonal. We have seen a throwover, which is normally an ending sign of the formation. I wil not excluse one more new low in the 73.36 - 73.58 area, but again we should be very very close to the final bottom.



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