Near Term Trend: Positive
Friday’s Close: 1.12145 (- .71 pips)
UPDATE: In our report (March 20) we observed, “The Euro broke above the Bull flag (March 16), as it should have. It peaked near the 1.13500 region”.
Four weeks ago we followed with, “Euro vs. U.S. Dollar would have to settle below 1.12850 for the U.S. Dollar to gain any semblance of buying power”. In our prior report eight days ago, we noted, “Based on this Friday’s settlement we may be in a situation whereby U.S. Dollar gains some strength”. As of this past week, it did.