Wednesday, March 9, 2011

EUR/USD 1.3860

Euro recovery attempt has been capped at 1.3910 at European session opening, and the pair, weighed under reemerging concerns about Eurozone peripherals' debt , has pulled back to retest support at 1.3860.

On the downside, below 1.3850/60 (Feb 28/Mar 1 high), the pair might find support at 1.3830 (Mar 3 low) and 1.3735 (Mar 2 low/20-day SMA). On the upside, immediate resistance lies at 1.3810/25 (day high/intra-day resistance), and above here, 1.3990/05 (Mar 4/8 highs) and 1.4037 (Mar 7 high).

Near-term outlook remains negative, according to Slobodan Drvenica, technical analyst at Windsor Brokers Ltd, while daily studies remain bullish: " Near-term outlook, however, remains negative, favoring break below 1.3860, to open way for further weakness towards 1.3830/00, before bulls re-assert for fresh push higher, as bullish daily studies keep focus at 1.4000/35, break of which to expose 1.4280/1.4307."

source: fxstreet.com
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22 comments:

  1. Patti D.March 9, 2011 at 4:05 AM

    thanks for the heads up!

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  2. AnonymousMarch 9, 2011 at 5:01 AM

    Might be time to trade those euroes in for GBP...

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  3. Full HD WallpapersMarch 9, 2011 at 6:24 AM

    1.38 is still way better then 1.20 we were at 2 months ago...

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  4. UnknownMarch 9, 2011 at 6:30 AM

    and down we go

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  5. CandleintheDarkMarch 9, 2011 at 7:05 AM

    This is actually very useful info. Following :)

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  6. PvtCarlinMarch 9, 2011 at 7:11 AM

    Thanks for the heads up!

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  7. KUSHtunesMarch 9, 2011 at 8:21 AM

    interesting stuff, amazes me each post.

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  8. HaliChapMarch 9, 2011 at 8:22 AM

    Pretty choppy chart today.

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  9. AnonymousMarch 9, 2011 at 8:29 AM

    i cant say i care

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  10. nooneMarch 9, 2011 at 9:42 AM

    thanks for informing :). keeping an eye on all of this

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  11. Angry China ManMarch 9, 2011 at 9:46 AM

    It's like reading the financial pages, but in a condensed form. cheers for this blog, following

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  12. AnonymousMarch 9, 2011 at 9:48 AM

    I'm still keeping an eye on it

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  13. ChrisMarch 9, 2011 at 10:01 AM

    Great post

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  14. AnonymousMarch 9, 2011 at 10:07 AM

    I might have to go to Europe soon and spend some of those valuable Euros.

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  15. Aaron M. GipsonMarch 9, 2011 at 10:12 AM

    Why does the near term outlook always have to be negative? Is it because it's a way to keep investors on their toes?

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  16. Daniel AndradeMarch 9, 2011 at 10:48 AM

    just hooping for the € to grow stronger to the £

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  17. Daniel AndradeMarch 9, 2011 at 10:50 AM

    cant w8 for the € to grow strong then the £ again

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  18. Armenia the FinestMarch 9, 2011 at 11:13 AM

    You don't understand how useful this is for me. Since I travel a lot your updates keep me informed on the prices before I head out to buy/sell Euro s and other currency.

    ReplyDelete
  19. Fix PC Games AdminMarch 9, 2011 at 11:40 AM

    thank you nice find

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  20. l33 v4n cl33fMarch 9, 2011 at 12:34 PM

    not bad considering the current situation

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  21. SlamcakesMarch 9, 2011 at 3:52 PM

    And the decline of the $ continues...

    ReplyDelete
  22. PorfirioMarch 9, 2011 at 4:44 PM

    just hoping for everything to recover

    ReplyDelete

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