The expected explosive increase of the Euro in the
technical analysis from yesterday took place (as it is seen on the graph) and the EU currency gained about 0.8 cents to trade at about 1.3415 US Dollars. At that point a nice bearish MACD and Stochastic divergence was formed on the 4 hour graph so reasonably the Euro took its way down. This can be clearly seen on the graph on the left - shown by the red lines (click on the graph for a bigger view).
The daily EUR/USD graph (click on the graph for a bigger view) supports the view for a further incerease of the US Dollar against the Euro for today or even for the several days ahead. What we could witness is a test of the previous low of the Euro at around 1.32.
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