Wednesday, April 27, 2011

EUR/USD 1,4673

Euro bearish correction was contained yesterday at 1.4500 area, and the par resumed the upside on Wednesday reaching fresh one-year highs at 1.4715, with scope to extend higher this session, according to Carol Harmer, technical analyst at CharmerCharts.

The pair faces resistance at 1.4715/30, according to Harmer, with next targets, above here, at 1.4760 and 1.4785: "We do have some resistance at 1.4715/30 and today we will either look to buy dips down to 1.4630/25 or buy a break of 1.4730. If we do break the 1.4730 resistance we should be able
to trade higher with 1.4760 to 1.4785 the targeted area."

On the downside, Harmer points out to key support level at 1.4625: "Now if we cannot hold over 1.4625 we should see a small retracement with 1.4585 then looking to entice."



  1. the chart looks like icicles pointing up

  2. Quite interesting stats. Keep active i think i should try it in the next few months!

  3. jeez when we going to get some stability, thanks for update

  4. Interesting. Very informative blog.

  5. Love the blog style! Keep up the great work!