The Euro US Dollar.

Good afternoon Dynamic Traders,

Firstly may I apologise for not posting last week but I have had a nightmare with broadband again and have not had much help from either my ISP or BT but had a very good local IT person take a look at it yesterday and has now got both ISP and BT listening as the line is receiving then not etc and so hopefully an engineer will be out early week, but in the meantime I am up and running although very slowly ( last speed check 0.3 Mbps ) but will try to keep posting.

I shall only try to give quick updates until this is rectified due to obvious reasons but please bear with me until the problem is hoefully sorted.

The EUR is showing a sell sign from one of our ways of trading after not being able to break away from the pyscological figure area of 1.5000 but this signal is contradicting the trend which is up and also Javid's view of the Dollar weakening, and so a discretionary call is needed.

A trendline break has occurred and a pullback is now occurring but to what degree we dont know. However former resistance now turned support clustering with the V.I. is close below and if met could provide stability before a possible continuation.

As mentioned the trend is still up with a good fibonacci cluster northward and so await a well determined entry from tying in your confluences but remember price may well be determined to test the V.I. before any continuation occurs if at all, also a bearish flag pattern looks as if it is occurring on the lower timeframe charts.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Looking forward to a new week.

Clayton Farnworth.