Euro Trends Higher

The EUR/USD currency pair has turned in a small uptick from last week’s low of 1.3286. Recent economic data has done little to bolster the US dollar. Most technical indicators point to the bullish trend remaining intact. With US housing data the only news due today, we will look to use dips as buying opportunities.

Race Is A Factor In Treating Heart Attack Victims

A study published in the Journal of the American Medical Association shows blacks less likely to receive specialized treatment following a heart attack than whites. The study tracked 1.2 million Medicare patients treated for heart attacks between January 2000 and June 2005 at 4,627 US hospitals.

Study results show wide differences in treatment between blacks and whites. Blacks were 30% less likely to receive procedures to open blocked blood vessels regardless of the facilities available. Blacks were 22% less likely to be transferred to a hospital which performed specialized procedures. The study also reveals that blacks were 26% more like;y to die during the period of 1 month to 1 year following a heart attack.

The study results are in the June 13 edition.

Next Up: US Retail Sales

The EUR/USD currency pair broke through support yesterday and continued lower overnight. Wave watchers now expect corrective wave action. Traders point to the EUR/USD pair dropping below the 100-day moving average for the first time since October, 2006, firm US 10-year treasury yields and the expected robust numbers from the US retail sales numbers. That being said, if support at 1.3260 does not hold, the next level looks to be 1.3100.

Not Much Movement

The EUR/USD currency pair has been relatively flat since late last week. Our indicators have not moved from neutral for some time. With no economic news expected to move the market before tomorrow we will look for the Euro to remain flat today. We are currently bouncing around the daily support of 1.3341. We’ll look to see if support holds before taking a position.