Friday, April 22, 2011

EUR/USD 1,4555

The Euro is losing ground over the past hour, retracing from a daily high at 1.4585 to make a quick comeback towards its opening price at 1.4550. At the time of writing, price is hovering around 1.4560.

In the Asian session, the pair showed a moderate positive tone but that was not enough for Euro bulls to break though the 50% fib retrac. from yesterday's pullback.

Further downside pressure may send the price towards 1.4540 ahead of key support at 1.4520. A break down beyond this latter level seems unlikely. On the upside, resistance can be found at 1.4585, today's high. Above, 1.4645 high will get exposed again.

source: fxstreet.com

8 comments:

  1. Funny thing is that the Finnish parliamentary election results brought the Euro down a bit.

    ReplyDelete
  2. Interesting how the euro could hold his value all this time.

    ReplyDelete
  3. the resistance looks pretty high

    ReplyDelete
  4. Looks like my earlier prediction might be right

    ReplyDelete
  5. Almost getting to the point where i may have some play money to go into this Forex foray. I'll keep you posted!

    ReplyDelete
  6. Jeez that sounds complicated

    ReplyDelete