Euro Topping Out

11/12/2009 1:41 pm EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

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Though the action in the dollar index yesterday was not that dramatic, the close in the euro did have me concerned, and today's weakness and a lower close will indicate it has formed a double top. A close below 1.4700 is needed to confirm with key resistance now at 1.5050. The OBV on the futures has also turned negative.