The Dollar/Euro Chart is in a monthly sideways starting from 21, October 2009 with a price 0.66 €, and now it is in a monthly upward move from an oversold area with a lowest price 0.669 € dated 4th of May 2011, if we look at the daily time frame we will notice that the price now is in a daily upward move starting from a price 0.701 € dated 27th of October 2011.
My opinion is that the Dollar/Euro now is in an daily over bought area refer to the Williams % R indicator and the price action is making a peak formation in all time scales, so sell dollar.
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