Euro oversold?

Without any correction the euro has increased in comparison to the US dollar during the past four weeks, in the meantime, from about 1.2650 USD on in the point more than 1.40 USD. On account of the latest overshoot about the parallel (act. now, however, with 1.3901 USD) to the boom trend since beginning of June technically oriented investors should be warned. A lasting relapse in the cited trend canal would mark and E. the starting signal for an appreciable EUR correction. A breather is favoured by the topical indicator constellation. During the RSI recently in oversold terrain the highest state of the year registered, takes down of the ADX as an indicator for the trend dynamism meanwhile on the highest state since December, 2004. At the same time the Bollinger tapes are widened very strongly. Also reminds not least the latest Candlestick constellation to the care. With a negative setting the course the horizontal hold brands with a good 1.37 USD might show only one stopping-off place on the way after the south. Then as an aim brand we define rather the high from the 6th of August with 1.3333 USD which is confirmed, in addition, by various other high-level points or a Fibonacci-Retracement (1.3306 USD).

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