€ / Y: bearish on a long term basis

Long term: lower

On a yearly basis, TAM tools are down. 89.59
(Historical Low) is our first target.

On a quarterly basis, a type 1 should develop.

On a monthly
basis, a bearish no-crossover is in progress with TAM tools.

Idea: MW is our maximal target

Bet: a selloff is expected.

R= MW (107.63);   
S= 89.59



On a weekly basis, TAM tools are neutral.

Idea: MW = strong resistance and LW = main support

Bet: wait.

R = MW (107.63);    
S = LW (101.32)



Short term: weak

On a daily basis, UD / LD spread is expending. PD
trend is bearish: a PEI could develop with our MACD.

Idea: decline as long as our MACD is not oversold

Bet: lower.


R = MD (105.95);  
S = LD (102.56)


Conclusion: bearish on a long term basis.

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