Gainesville, FL (PRWEB) February 02, 2012
Center on Economic Transition and Harmonisation (CETH) released a public highlight this past weekend exploring price action of the euro relative to the United States dollar.
The reported findings avoid conclusions but present what may be actionable intervals.
"The euro is consolidating for at least the last four years," said Aron Workman, founder and analyst. "The chart shows the price has bounced between boundaries."
Workman suggested the rhombic price action formation implies a break out as early as this quarter.
"[Price] gaps up or down after leaving the box. This is what almost always occurs on the quicker charts with the same setup," he said.
Another reported finding is that many of the largest price actions over the past half decade have been defined at or around the beginning of the year.
"It may end a strong year for the euro," noted Workman. "The recent surge is indicative despite, if trends persist, having not yet seen the low."
View the annotated chart in one click: http://ceth.org/rrct/
Center on Economic Transition and Harmonisation is an independent think tank operating in the public domain regarding the international economy during these potentially transformative times.
Disclaimer: For informational purposes only. Not to be construed as financial advice.