Tuesday, April 12, 2011

EUR/USD 1,4479

The Euro fell more than 50 pips in 60 minutes and trimmed gains. The EUR/USD retreated sharply after hitting at 1.4517 the highest price in 14 months following Wall Street opening, accelerating the downside below 1.4500. The decline found support around 1.4435 and currently the pair is trading above 1.4450.

Despite the recent slide the common currency is still gaining on a daily basis against the Dollar and holds more than 85 pips above Asian session lows.

Technically speaking, according to Andrei Tratseuski from Forex Club, intermediate resistance hovers at 1.4675 “represented by 127.1% Fibonacci extension of major high and major low as well as the highest level reached in 2010” while to the downside current support lingers at the first standard deviation at 1.4375.

source: fxstreet.com
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17 comments:

  1. Ke3userApril 12, 2011 at 1:13 PM

    Damn, man. Didn't know this could be such a complicated process. Perhaps just my ignorance. Thanks for keeping me up to speed!

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  2. MikeApril 12, 2011 at 1:54 PM

    What does this mean for the American economy?

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  3. AllenTeschApril 12, 2011 at 2:28 PM

    How complicated this all is just stuns me.

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  4. Eric PApril 12, 2011 at 2:40 PM

    Jeez, Euro just keeps on climbing. Or maybe it's just the weaker dollar.

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  5. lacrossemanApril 12, 2011 at 2:53 PM

    Nice review. I like to look at euro prices since I'm in the US and it gives me perspective on inflation here.

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  6. Biff TannerApril 12, 2011 at 3:12 PM

    Hell yeah you have some nice info.

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  7. UnknownApril 12, 2011 at 3:21 PM

    interesting

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  8. nooneApril 12, 2011 at 3:25 PM

    nice. i hope that the euro keeps valorizing against the usd.

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  9. miousApril 12, 2011 at 3:56 PM

    good post, stuff like that interests me :)

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  10. NateApril 12, 2011 at 3:57 PM

    i so want to get into this

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  11. edApril 12, 2011 at 4:07 PM

    wow 50 pips, i have no idea what a pip is

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  12. MuteMath FanApril 12, 2011 at 4:45 PM

    Guess this is better for the dollar? Thanks for letting me know.

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  13. AnonymousApril 12, 2011 at 5:33 PM

    Thanks for the update.

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  14. UnknownApril 12, 2011 at 6:53 PM

    Haven't really kept up with the changes in currencies, but interesting.

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  15. MattApril 12, 2011 at 8:09 PM

    It still just gets me how with all of the other factors going on in the world, the exchange rates are affected by such factors as. . .the exchange rate. It boggles my mind!

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  16. CorridorApril 12, 2011 at 11:32 PM

    It really seems like a random process to me

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  17. jopjopjopApril 13, 2011 at 4:09 AM

    @ed if the EUR/USD is at 1,4500 and it raised up to 1,4505 (5 pips) that difference would be called PIP

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