Entering text into the input field will update the search result below

EUR/USD: Nothing Interesting This Sunday Afternoon

Jul. 21, 2013 9:17 PM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

The dollar index USDX is in a general uptrend for over two years now, since May 2011. The uptrend is not as strong as it had been, and recently the US dollar has not been making consistent gains, breaking both new highs and new lows every month.

There was a strong really in the last third of June and the first third of July, but after a sharp drop on July 10, 2013, the trading has been flat. The M5 chart indicates a downtrend, and the M1 chart suggests a new uptrend may be forming, but neither of these are yet very convincing.

The euro has been rallying for close to a year now. The hourly chart shows a gentle uptrend, but M5 is flat. The European currency gapped down this Sunday, and has not reached Friday's closing price as of this writing.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.