Friday, April 29, 2011

EUR/USD 1,4840

Euro recovery from yesterday's low at 1.2750 has been capped at 1.2960/65 resistance area, and the pair has pulled lower, forming another "double top" at the mentioned 1.2960, according to Fan Yang, technical analyst at FXTimes.

The pair has formed a "double top" pattern, according to Yang, activated below 1.2910: "The recent from 1.28 has met resistance at 1.2960. During today’s European session, a double top is forming with a break below the 1.2910 support."

On the downside, the pair targets 1.2800 says Yang: "As the market has been bearish from 1.3250, the bearish outlook is inline with the prevailing trend. Looking at the internal structure of the sideways channel seen in the 4H chart, a wave equality target is at 1.28."



  1. whats up with crued im still getting robed at the pump

  2. So how much money is there to be made in currency trading? I hear a lot about it but know very little about what it truly is. I'll keep checking this blog out.

  3. Good overview of current situation on EUR/USD relationships.

  4. looks like its going to stay low for the next couple of days