Exposing Ideas to the Envelope of Serendipity

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Friday, January 21, 2011

Revisiting EUR/USD

Back on January 10th, when the dollar had been enjoying a spirited run, I posted the following chart to call attention to a potential bounce on the way as a support level I was monitoring was about to be tested.

As it turns out, the plunging euro at the time respected the targeted trendline, and the anticipated bounce did indeed take hold. The chart below shows where things are now, with the recent move back up putting into play a nice double bottom base that looks likely to resolve higher, perhaps just shy of the November high. Stay tuned.

Trade well.

-- Brinkley
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