Tuesday, October 23, 2007

Market Jitters Over?

As relative calm returns to the US equity markets we will once again try to find another trend in the EUR/USD currency pair. Credit worries hammered the equity markets last week. After hitting new highs against the US dollar, then retracing, the Euro is now consolidating at short term resistance of 1.4210. Although our indicators are neutral, we will watch for further declines from this level if resistance holds.

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