Friday, March 11, 2011

EUR/USD 1,3830

The Euro is heading higher in Asia, knocking the price back up from an open at 1.3796 to just hit new daily highs at 1.3830, old support now acting as new resistance, also 38.2% fib from yesterday's big drop.

The rise comes after the Euro hit a one week low at 1.3774 on Spanish downgrade, panicking investors who quickly got rid off long positions in the shared currency as renewed concerns surrounding European periphery debt woes return.


As said, solid resistance now lies at 1.3830, only clearance off this level will open the gates for further gains towards 1.3855/70 level ahead of a broader recovery to 1.3920. On the downside, watch for support at 1.3770/50, the lose of this figure will improve the likelihood of prices dropping to 1.3740 with final target at 1.3710.
source: fxstreet.com

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14 comments:

  1. Patti D.March 11, 2011 at 4:56 AM

    It's all going down, this doesn't look good.

    ReplyDelete
  2. nooneMarch 11, 2011 at 5:16 AM

    Hope that euro goes up!

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  3. UnknownMarch 11, 2011 at 5:50 AM

    and down we go

    ReplyDelete
  4. metaphysicalfarmsMarch 11, 2011 at 8:04 AM

    I wonder what the Tsunami will do to the asian markets?!

    ReplyDelete
  5. Aaron M. GipsonMarch 11, 2011 at 9:41 AM

    I really hope that quake and tsunami doesn't effect the Japanese too badly and upset the Asian markets' gains...

    ReplyDelete
  6. Shelby FoxMarch 11, 2011 at 11:19 AM

    Not a wide band here, but it sure makes a big difference, eh?

    ReplyDelete
  7. AllenTeschMarch 11, 2011 at 2:07 PM

    What is the Japan earthquake going to do?

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  8. FourraMarch 11, 2011 at 3:12 PM

    euro is going up im sure!!
    thx

    ReplyDelete
  9. ChrisMarch 11, 2011 at 3:40 PM

    Good strength on the Dollar today

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  10. nooneMarch 11, 2011 at 6:01 PM

    I'm sure something will change now...

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  11. edMarch 11, 2011 at 7:13 PM

    yea word, the tsunami going produce bad effects

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  12. ThuganomicsMarch 11, 2011 at 8:11 PM

    ^ i got a feeling that's exactly what's going to happen with the asian markets.

    ReplyDelete
  13. skinned sheepMarch 11, 2011 at 8:22 PM

    ooh that doesnt look too good.

    <_<..... >_> right?

    ReplyDelete
  14. TVShowsMarch 12, 2011 at 4:20 AM

    :S scary graphic

    ReplyDelete

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