Monday, February 28, 2011

EUR/USD 1.3862

The Euro has opened the week on a positive mood, according to Karen Jones, technical analyst at Commerzbank, aiming towards 1.3862, key resistance level, on its way towards 1.3950/1.4000.

The pair seems likely to assault 1.3862, en route to 1.3950/1.4000, where, according to Jones, failure is favoured: "EUR/USD starts the week ready to challenge the 1.3862 February high and extend gains towards 1.3960/1.4000, this is the location of the 78.6% retracement of the move down from November – it is also the location of the 200 week moving average. Our expectation is for a move to but failure at 1.3950/1.4000."

Downside attempts are expected to be contained at 1.3705/45 and 1.3635/11, says Jones: "Near term dips will find support at 1.3705/45 ahead of 1.3635/11 (2 month support line)."

 source: http://www.fxstreet.com

16 comments:

  1. as always, thanks for the update

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  2. its good to see that its going up again

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  3. Nice info, right now the CDN collar is currently on the rise also.

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  4. The question is can it sustain such a clime. I'm not so sure. The price of oil will make things go crazy.

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  5. I love it when currencies are in a good mood.

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  6. Euro is appreciating against the USD? Excellent news....seems like the USD is depreciating across the board.

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  7. btw, I love your avatar pic. I will keep dreaming you are a beautiful and brilliant German female financier.

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