Friday, March 25, 2011

EUR/USD 1,4159

Euro recovery from 1.4050 low yesterday, was capped at 1.4220, and the pair has remained steady on Friday consolidating below 1.4200 , with downside attempts contained above 1.4140/50 support so far.

On the upside, immediate resistance lies at 1.4200/20 (Mar 23 high/intra-day resistance), and above here, 1.4250 (Mar 22 high) and then 1.4285 (November 2010 high). On the downside, support levels lie at 1.4140/50 (day lows) and below here, 1.4100 (intra-day support), and 1.4050 (Mar 23 low).

The pair, however, is engaged on a bearish pattern, according to Ron William, technical analyst at MIG Bank: " the move is still weighed down by the bearish (evening star) candle pattern beneath key resistance/confluence zone between 1.4270/1.4282 (Major downward trend-line/November 2010 peak). We remain short, favouring a break of 1.4059 (38.2% Fib), then back into that all-important psychological level at 1.4000."

source: fxstreet.com

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33 comments:

  1. elexerdelexMarch 25, 2011 at 5:41 AM

    =D this is good for the euro no?

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  2. nooneMarch 25, 2011 at 5:54 AM

    Watching...

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  3. Fix PC Games AdminMarch 25, 2011 at 6:59 AM

    thank you for this :)

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  4. Running LuLuMarch 25, 2011 at 7:55 AM

    its crazy how much it fluctuates!

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  5. metaphysicalfarmsMarch 25, 2011 at 8:27 AM

    currency markets are crazy to me

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  6. PvtCarlinMarch 25, 2011 at 8:28 AM

    Thanks for sharing. This blog really helps me decide where to put my money.

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  7. Aaron M. GipsonMarch 25, 2011 at 8:52 AM

    Two currencies locked in eternal combat, at least the pair doesn't look as though their spread is too extreme.

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  8. Shelby FoxMarch 25, 2011 at 11:44 AM

    Thanks for the info! I don't trade this pair, but I'm considering it in the future.

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  9. ApesMarch 25, 2011 at 12:09 PM

    that is about what it always is...

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  10. Obi-wan MikenobiMarch 25, 2011 at 12:11 PM

    Thanks for the update.

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  11. tyler_croweMarch 25, 2011 at 2:48 PM

    This is why I have tried to get paid in Euro at work, to bad it doesn't work :s

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  12. AnonymousMarch 25, 2011 at 5:09 PM

    I have like 300 Euros that I'm waiting to cash in at the right time. I'm also surprised to see how the Canadian dollar is doing against the greenback.

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  13. UnknownMarch 25, 2011 at 5:35 PM

    i should have invested a few months ago

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  14. edMarch 25, 2011 at 7:45 PM

    good to see the euro getting strong

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  15. Electric AddictMarch 26, 2011 at 1:53 AM

    great info thanks

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  16. PekkaKMarch 26, 2011 at 7:46 AM

    Thanks for the tip.

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  17. EqualMarch 26, 2011 at 8:52 AM

    neat stuff...very informative

    followed

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  18. JordanMarch 26, 2011 at 2:12 PM

    if only I understood :p

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  19. skinned sheepMarch 26, 2011 at 3:28 PM

    wow thats crazy i remember when it was 900 or something like that

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  20. SlamcakesMarch 27, 2011 at 1:16 PM

    So my bro is gonna get screwed on the conversion rate when he comes back to the states

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  21. JoeMarch 27, 2011 at 4:04 PM

    Awesome blog dude. I wish i was brave enough to do forex trading.

    ReplyDelete
  22. Yu-Gi-Oh PlayerMarch 27, 2011 at 4:10 PM

    you are quite knowledgeable about this

    ReplyDelete
  23. Pappa PüllïMarch 27, 2011 at 4:20 PM

    You really should mac-and-me!

    ReplyDelete
  24. EmoGothMarch 27, 2011 at 4:39 PM

    This is a lot of numbers to tell me I'm still poor.

    ReplyDelete
  25. red9987March 27, 2011 at 7:45 PM

    That's just what i was thinking.

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  26. SpikeMarch 28, 2011 at 2:54 AM

    thanks for the info

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  27. Danny MurphyMarch 28, 2011 at 3:38 AM

    Interesting stuff

    ReplyDelete
  28. freddieblue1March 28, 2011 at 3:51 AM

    good info thanks

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  29. EnnovativeMarch 28, 2011 at 4:17 AM

    its nice to know this since i still have to change some dollars :O

    ReplyDelete
  30. GoregrindmadnessMarch 28, 2011 at 9:27 AM

    great, if u need infos bout currency trading all u need is your blog :D

    ReplyDelete
  31. amchoMarch 28, 2011 at 2:39 PM

    great intel ;)

    ReplyDelete
  32. RoloMarch 28, 2011 at 4:56 PM

    haveyou put up anything that says what the tsunami in Japan will have as an effect on the global economy.

    ReplyDelete
  33. paidvacation1605April 22, 2011 at 7:32 PM

    Currency trading is a risky biz

    ReplyDelete

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