Friday, April 22, 2011

EUR/USD 1,4555

The Euro is losing ground over the past hour, retracing from a daily high at 1.4585 to make a quick comeback towards its opening price at 1.4550. At the time of writing, price is hovering around 1.4560.

In the Asian session, the pair showed a moderate positive tone but that was not enough for Euro bulls to break though the 50% fib retrac. from yesterday's pullback.

Further downside pressure may send the price towards 1.4540 ahead of key support at 1.4520. A break down beyond this latter level seems unlikely. On the upside, resistance can be found at 1.4585, today's high. Above, 1.4645 high will get exposed again.

source: fxstreet.com
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8 comments:

  1. Rocka-RollaApril 22, 2011 at 7:03 AM

    Funny thing is that the Finnish parliamentary election results brought the Euro down a bit.

    ReplyDelete
  2. NinaApril 22, 2011 at 10:27 AM

    hmm.

    ReplyDelete
  3. KanedaApril 22, 2011 at 12:24 PM

    Interesting how the euro could hold his value all this time.

    ReplyDelete
  4. edApril 22, 2011 at 12:43 PM

    the resistance looks pretty high

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  5. Jazz bazookaApril 22, 2011 at 12:54 PM

    thanks for the info

    ReplyDelete
  6. EdApril 22, 2011 at 2:42 PM

    Looks like my earlier prediction might be right

    ReplyDelete
  7. Aaron M. GipsonApril 22, 2011 at 3:32 PM

    Almost getting to the point where i may have some play money to go into this Forex foray. I'll keep you posted!

    ReplyDelete
  8. EganApril 22, 2011 at 8:14 PM

    Jeez that sounds complicated

    ReplyDelete

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