Monday, May 30, 2011

EUR/USD 1,4289

Euro recovery from last week lows at 1.3970 halted at 1.4335 on early Asian session, -10 pips shy of May 20 high- and weighed by faltering risk appetite, the pair pulled back in Asia, dipping below 1.4300 to hit session lows at 1.4255 ahead of the European opening.

Below 1.4255 (day low), the pair might find support at 1.4185/00 (May 26 high/day low), and 1.4065 (May 26 low). On the upside, immediate resistance lies at 1.4300 (intra-day level), and above here, 1.4335/40 (day high/May 20 high) and 1.4425/40 (May 9/11 highs).

Technically, the pair lies at an important price area, according to Alberto Muñoz, analyst at FXstreet.com: "In the case of EURUSD, a strong close above 1.4300 would indicate we will have a bullish rally in the next days. On the other hand, a close below 1.4200 would mean the market is going to test recent lows."

source: fxstreet.com

5 comments:

  1. It's abit of a loss but decent after all i guess

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  2. the dollar is dead, and you cannot do anything to save it! it's the reallity!

    ReplyDelete