EuroDollar positive bias

Monday 7th lows was a 50% retracement of 2009 highs for the Euro from 2010 lows.   This comes after we recently saw the 61% mark (roughly) on 2nd Feb at 1.3898 Euros to a USA Dollar.

On my long term weekly drawn chart I have this recent action as also fitting into a positive trend for the Eurodollar going back to 2008 and 2009 lows.   This chart is one I drew last year, data is current of course

USDX Friday highs bring it into trend resistance on the daily chart

Highs on friday matches previous trend.  UUP lows also near support

Cadogan Petroleum's long term view matches pullback

Spread on CAD just dropped to 1.5% 

 Volume today has been fairly highly, action is negative and in line with yesterday.  The high recently of 35p fits long term to previous failed support in Dec 2008.

   For whatever reasons these bumps in the road are not forgotten on the way back up.

30p is the 5 day average price.  Tuesdays lows would make a nice target to buy