Friday, March 11, 2011

EUR/USD 1,3830

The Euro is heading higher in Asia, knocking the price back up from an open at 1.3796 to just hit new daily highs at 1.3830, old support now acting as new resistance, also 38.2% fib from yesterday's big drop.

The rise comes after the Euro hit a one week low at 1.3774 on Spanish downgrade, panicking investors who quickly got rid off long positions in the shared currency as renewed concerns surrounding European periphery debt woes return.


As said, solid resistance now lies at 1.3830, only clearance off this level will open the gates for further gains towards 1.3855/70 level ahead of a broader recovery to 1.3920. On the downside, watch for support at 1.3770/50, the lose of this figure will improve the likelihood of prices dropping to 1.3740 with final target at 1.3710.
source: fxstreet.com

14 comments:

  1. It's all going down, this doesn't look good.

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  2. I wonder what the Tsunami will do to the asian markets?!

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  3. I really hope that quake and tsunami doesn't effect the Japanese too badly and upset the Asian markets' gains...

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  4. Not a wide band here, but it sure makes a big difference, eh?

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  5. What is the Japan earthquake going to do?

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  6. euro is going up im sure!!
    thx

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  7. Good strength on the Dollar today

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  8. I'm sure something will change now...

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  9. yea word, the tsunami going produce bad effects

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  10. ^ i got a feeling that's exactly what's going to happen with the asian markets.

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  11. ooh that doesnt look too good.

    <_<..... >_> right?

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