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- 4H and Daily: The EUR/USD reached the 1.5075 area, invalidating our short-term bearish outlook. (Refer to Daily Technical Update 11.23.2009 EUR/USD).
- In the daily time-frame we notice that we are basically in between a clear-out and a successful breakout. If this week ends above 1.5100, we may have a further rally in the medium-term for 4H, and short-term for Daily, to 1.5300.
- For the breakout scenario, it will be important that the 1.5000-1.5050 area holds as support, otherwise this break will be considered a clear-out and our bearish outlook will return to validation.
Fan Yang
Currency Analyst,
Commodity Trading Advisor
