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Sea Lion Capital Management LLC provides Investment Advisory Services. Founder and Chief Market Strategist Alan Posner presents his analysis of markets here throughout the week. Sea Lion Capital Management specializes in stock market technical analysis, commodities technical analysis, and forex... More
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  • Will This Be The Drive That Puts EUR/USD Below $1.30? 0 comments
    Apr 23, 2012 8:09 PM | about stocks: FXE

    Give EUR/USD credit for being stubborn. In spite of all the uncertainty around European debt and a recession the Euro has stayed above $1.30 and although it had a few opportunities to dive lower it hasn't. Since 2/6 the Euro has come close to $1.30 only to find support and rally as high as $1.3485. This fairly narrow range has been making lower highs however as time has gone and the True Strength Index (NYSE:TSI) has been mirroring its behavior. Now the TSI looks prepared to curl back below the "0" line and provide a bearish signal.

    While price has been consolidating the ADX has been devoid of momentum and has not demonstrated any interest in moving higher. A break of $1.30 could result in a quick move to $1.2650 and the ADX should react. See the chart.

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    Themes: Euro, dollar, forex Stocks: FXE
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