Euro-USD: 6 June 2012, Wednesday, 8.05am Singapore Time

Euro-USD: 6 June 2012, Wednesday, 8.05am Singapore Time

Euro-USD Hourly Chart: A Close Up Look

Pretty self-explanatory. Enter into BLACK BOX zone and a messy bi-directional whipsaw for world financial markets to operate for the next few days. Breaking up BLUE & PURPLE resistances and the up-direction is set for the mid term. Breaking down GREEN support and the movement is still trapped inside the RED channel for the short term. 1.25000 area is still the key, while BLACK BOX region is like a black hole for volatility which would be good for big hands if they are looking to ease the process of taking profits of their shorts in financial derivatives, indices and stocks markets. Volatility in Forex markets will induce stocks and indices algorithms to tailgate the volatility in Forex.

However, Euro (against USD) is still looking to reach its 1.30000 objective in the short-mid term before it can carry on its downtrend.