2010-04-29 bigger picture.

I don't do this often, today I got some time at night, let's look at the bigger picture of EUR/USD.



First is daily picture, it's clearly a down trend, and there is no apparent bottom, we could see 1.2 or 1.1 in the end of the year.


Then it's hourly, we may have a bottom at 1.3150 level, especially people are whispering that China and other Asian country are buying at that level. But I still feel that we need to see price lower (or at least re test 1.3150) before seeing it goes higher.

Again, this is just longer term view, it doesn't really matter in short term trading.