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The long term EUR picture shows that EURUSD....>

EURO
EURO: The long term EUR picture shows that EURUSD gains have been capped by
major resistance levels since the beginning of the year. The 100-month moving
average at 1.2499 has been limiting gains for the past three-months. Meanwhile,
the long term down trendline from the 2008 peak currently intervenes at 1.2620.
Also note that the 10%-15% pace of year-on-year gains achieved by EURUSD since
November is now slowing. A monthly close below the major up trendline at 1.2257
will turn the picture EUR bearish for many longer term investors.

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