Euro Correction Over?

04/24/2009 11:43 am EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

chart

The euro has rallied sharply from Monday’s lows at 1.2930 to over 1.3200 in Friday’s trading. The daily chart appears to be forming a continuation, suggesting that the euro’s next major move will be up. The RSI3 and MACD-H have turned up. Once above the March highs, the next Fib targets are at 1.40 and 1.43.