EUR/USD Dail - Monthly
 

Strategy: Trading 1.20 - 1.24 range. Trading the range has been working, playing a break-out has not as the monthly chart shows that E/$ has been in sideways trade since early '04. This is due to the 2 year upward channel being broken and support at 1.18 preventing a correction from developing. Daily shows 2 consecutive failed days higher, likely setting up brief dollar strength this week.