Friday, January 14, 2011

The Euro/Dollar

I mentioned we'd probably see some distribution in  the Euro as it approached resistance near $1.3375, it looks like that is happening.

3C FXE 10 min.

Conversely...
UUP is seeing some accumulation at the same time.

When a parabolic move like this starts showing volatility, it's often hitting shearing forces. I think there's not a lot of upside left in the Euro.

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