EURO TRENDS – CHANNELING THE ENERGY

Published Sun, 22 Jan 2012 15:40:54 +0000

FOREX TRADING:

Following the Momentum Channel

This is an additional post to establish the larger picture within which my earlier post and chart are operating.

Below is a daily chart showing the beginning of the present down slide in the Euro’s prices which started last November.

Note that I’ve enclosed the essence of this movement with a red rectangle to give a better sense of the parameters of this currency for the long-term.

The Daily Euro Trend

Although there are very few who are concerned with the longer-term moves in the forex markets except those holding cash or making transactions in Euros, still, it’s necessary to set boundaries to our perspective for any individual market like the Euro by finding out where the larger forces of the market are heading prices.

The trend rectangle shown here does that quite well I think.

We’ll have some other charts with trends later this week. Stay tuned. - George

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