After a very sharp fall starting 10/28 a short term bottom may have formed on 11/8 as the Euro
is now looking stronger. A little more follow through will be needed for a bullish
perspective however. Ideally we would like the indicators to confirm a bullish
move on the renko chart. This means the stochastic
needs a bullish
cross and a rise above 20 and the MACD
need to reach the zero line as well. Coming up on Thursday is the German GDP report which may be the catalyst to get the currency pair moving higher.