Wednesday, December 6, 2006

EURUSD 12-6-06

12-6-06

EURUSD

The EURUSD is still in the same range as yesterday between 1.3362 and 1.3294. The area of supply inside the range between 1.3320 and 1.3334 may turn the EURUSD down to extend the bottom of the range. I see that the US Dollar Index came into an area of support on a daily chart at $82.25 which may lead to a significant bounce for the dollar. I will hold off on any long trades until the 1.3250 area in the EURUSD.

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