[notouch]

This will be my last post on the subject. The "correlation" between EC and EUR/USD is almost 100%. There are arbitrage programs run that ensure the two are never out of step except for maybe a split second after news releases. The apparent difference in the price of the two simply reflects interest rate differentials. The futures price follows the spot price exactly. If EUR/USD goes up 27 pips then EC goes up 27 pips. If EUR/USD goes down 106 pips then EC goes down 106 pips. I'm not trying to start a discussion about spot v futures I'm just pointing out that anything you can say about the EC charts applies equally to EUR/USD charts. Most EC traders use EUR/USD charts though so that they can see the big psychological levels like 1.30. There is no meaningful separate discussion you could really have. That's why you never see anyone discussing EC separately. Good luck to you anyway.