Stocks Rebound—Euro Closes Weak

09/18/2008 12:00 am EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

chart

The rally in the Euro may have stalled today as the candle formation reflects a close near the lows Thursday. The recent rebound just made it to first resistance in the 1.4550-4700 area. No signs that the Euro's decline or dollar rally is over. The 50/200 day MAs are negative and daily indicators suggest a drop below the recent lows.