Tuesday, April 24, 2012

EUR/USD 1.3191

Risk sentiment continues to improve and the EUR/USD is getting closer of retracing yesterday’s losses. The American session rally pulled the pair from the opening price at 1.3155 to print a new high at 1.3218.

At the moment of writing, the EUR/USD is holding at the psychological level at 1.3200.

“A decisive close below 1.3000 is required to unlock the important multi-month reversal pattern into 1.2625 (16 Jan swing low). Meanwhile, only a sustained daily close back above 1.3228 (20th April high), puts this scenario on hold for a potential recovery into our upside target zone at 1.3460-1.3497 (200-day average)”, wrote MIG Bank analyst Howard Friend.

source: fxstreet.com

13 comments:

  1. the euro is coming back i guess

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  2. I'm confused but I think I know what's going on

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  3. Interesting stuff, thanks for sharing!

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  4. euro still high even if it were 1.2635..

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  5. I'm glad we've still got the Pound here in the UK, wouldn't want to be caught up in the whole euro mess right now

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  6. Money values is definitely a "psychological level" isn't it.

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  7. Very interesting, good reading. Following

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  8. Will follow to stay updated, good site

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  9. Do you know anything about e-currencies?

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  10. Planing on starting trading, this should be a good place to find information.

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