Friday, March 25, 2011

EUR/USD 1,4159

Euro recovery from 1.4050 low yesterday, was capped at 1.4220, and the pair has remained steady on Friday consolidating below 1.4200 , with downside attempts contained above 1.4140/50 support so far.

On the upside, immediate resistance lies at 1.4200/20 (Mar 23 high/intra-day resistance), and above here, 1.4250 (Mar 22 high) and then 1.4285 (November 2010 high). On the downside, support levels lie at 1.4140/50 (day lows) and below here, 1.4100 (intra-day support), and 1.4050 (Mar 23 low).

The pair, however, is engaged on a bearish pattern, according to Ron William, technical analyst at MIG Bank: " the move is still weighed down by the bearish (evening star) candle pattern beneath key resistance/confluence zone between 1.4270/1.4282 (Major downward trend-line/November 2010 peak). We remain short, favouring a break of 1.4059 (38.2% Fib), then back into that all-important psychological level at 1.4000."

source: fxstreet.com

34 comments:

  1. =D this is good for the euro no?

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  2. its crazy how much it fluctuates!

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  3. Thanks for sharing. This blog really helps me decide where to put my money.

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  4. Two currencies locked in eternal combat, at least the pair doesn't look as though their spread is too extreme.

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  5. Thanks for the info! I don't trade this pair, but I'm considering it in the future.

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  6. that is about what it always is...

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  7. This is why I have tried to get paid in Euro at work, to bad it doesn't work :s

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  8. I have like 300 Euros that I'm waiting to cash in at the right time. I'm also surprised to see how the Canadian dollar is doing against the greenback.

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  9. i should have invested a few months ago

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  10. good to see the euro getting strong

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  11. neat stuff...very informative

    followed

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  12. wow thats crazy i remember when it was 900 or something like that

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  13. So my bro is gonna get screwed on the conversion rate when he comes back to the states

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  14. Awesome blog dude. I wish i was brave enough to do forex trading.

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  15. you are quite knowledgeable about this

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  16. This is a lot of numbers to tell me I'm still poor.

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  17. That's just what i was thinking.

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  18. its nice to know this since i still have to change some dollars :O

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  19. great, if u need infos bout currency trading all u need is your blog :D

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  20. haveyou put up anything that says what the tsunami in Japan will have as an effect on the global economy.

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