Posted in: spread-betting
RE: Trading/Spreadbetting board11 Jul 2011 16:37
Run to safety amid sovereign debt extending its claws to Italy, had pushed the EUR/USD to a fresh 2-month low at 1.4025, with hourly indicators showing extreme oversold readings yet price still sliding, unable to set a corrective reversal. 4 hours chart is also strongly bearish, with RSI also reaching oversold territory; however, psychological 1.4000 area is still to be broken, to confirm further bearish strength this week.
Looks like we need to be very careful here!