EUR/USD: Nothing Interesting This Sunday Afternoon
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.
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