17th May 2012

UPDATE

Dollar Euro: end of the first leg?

Technical Fundamental

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Disclaimer

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Dollar Euro: end of the first leg?

Euro - US Dol la r 1.52 1.51 1.50 1.49 1.48 1.47 1.46 1.45 1.44 1.43 1.42 1.41 1.40 1.39 1.38 1.37 1.36 1.35 1.34

WEEKLY CHART
The weekly chart shows how the market retraced back to retest the neckline when the big H&S finally completed. Note that there is still long way to go

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UPDATE Technical Fundamental

Diagonal bear trend resistance from August 2011
1.1880

1.33 1.32 1.31 1.30 1.29 1.28 1.27 1.26 1.25 1.24 1.23 1.22 1.21 1.20 1.19 1.18 1.17 20 12 Mar Apr May Ju n Ju l Aug

1.2629 Low

Mar Apr May Ju n Ju l

Aug Sep Oct

Nov Dec 20 11 Fe b Mar Apr

May Ju n Ju l

Aug Sep Oct

Nov Dec

DAILY CHART
Euro - US Dol la r 1.35 5 1.35 0
50.0%

1.34 5 1.34 0

Neckline 1

1.33 5 1.33 0 1.32 5 1.32 0 1.31 5

The small H&S pattern which completed two week ago has achieved much of the expected move. We are profit-takers here and on a close approach to the pivotal low at 1.2628

1.3149 Low 1.3006 Low

1.31 0 1.30 5 1.30 0

Neckline 2

1.29 5 1.29 0 1.28 5 1.28 0 1.27 5

1.2628 Low

1.27 0 1.26 5 1.26 0 1.25 5 1.25 0 1.24 5

Disclaimer

12

19

26

2 9 20 12

16

23

30

6 13 Fe brua ry

20

27

5 March

12

19

26

2 9 April

16

23

30 7 May

14

21

28 Ju ne

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UPDATE Technical Fundamental

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