The Daily Bullish in the cash Euro for today’s close are 12977 and 13134. The Weekly Bullish are 13134 and 13433. This corresponds with the top of the technical channels. The monthly levels also show the first resistance at 13140 and 13370. We also have some closing resistance technically at 12996.
The Euro on the momentum indicators showed a bit over done, but at the same time the boarder term levels indicate that this currency is headed significantly lower. As the dollar is forced higher, this will impact the US economy and turn that down as well from 2015.75. These trends unfold in slow motion once you begin to see the connections. Capital flows like water.
