Wednesday, April 13, 2011

EUR/USD 1,4505

EUR/USD tried to break higher but faltered just prior the level of 1.4535 at 1.4520 on Tuesday, and edged lower to current levels around 1.4475 where it has been consolidating most of the Asian session.

According to Carol Harmer, analyst at CharmerCharts, the medium term charts show the pair in quite dangerously overbought territory, so a pullback could be expected. However, she thinks above 1.4535 the bullish move could resume, "Only then would the market shrug off these overbought indicators leaving buyers to take us higher for 1.4635", Harmer said.

On the downside, she locates support at 1.4450, "A loss through here keeps the sellers in a strong position and we should be able to drive this lower to more manageable levels of 1.4385/75 and possibly 1.4350".

source: fxstreet.com


25 comments:

  1. very interesting info, thanks again.

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  2. doesn't look like anything super exciting is going on with the market today

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  3. Trending up it looks like but still so unstable.

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  4. Ugh. More about how worthless the USD is. Make me feel awesome..........wait for it.......NOT.

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  5. I've always been interested by the USD/EU exchange rates, because I work at an airport, and obviously deal with customers who come from all over the world. Our store is equipped with computers which automatically update the exchange rates, although I always had a knew they weren't correct. Using your blog as a reference will help me explain to customers that the exchange rates we provide are actually wrong. I hate the company I work for.

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  6. looks like its time for it to go up some pips?

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  7. Interesting, i'll stay tuned for more

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  8. I'm interested in that, but good think that u are.

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  9. Come on Dollar, you can do it! I love this blog so much, I can actually say that I know more than my friends about what's happening to the greenback, and I don't even live in the US anymore LOL!

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  10. I had $300 and changed to euro last monday. I really hoped to get more value for my money =(

    +followed!

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  11. Very nice blog! very useful to know, look forward to reading future posts.

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  12. I hope the dollar picks it up soon.

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  13. I hated the exchange rates when I went over to Germany....

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  14. Currency trading is a subject that I know nothing of.

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  15. Got my morning fix of currency info...thanks for the update.

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