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EURUSD: Broader Bias Remains Higher, Targets Key Resistance EURUSD: With the pair continuing to hold firmly above its key resistance at the 1.3233 level, its Jan 27’2012 high and bullish, the risk is for EUR to target the 1.3375 level, its Dec 12’12 high. A breach of there will aim at its Dec 02’2011 high at 1.3547. Its daily RSI is bullish and pointing higher suggesting further strength. Alternatively, on pullbacks support lies at the 1.3233 level where a violation will target the 1.3000 level and next the 1.2930 level, its Jan 25’2011 low. Further down, support lies at the 1.2856/75 level, its Dec 29’2011 low/Jan 2011 low. All in all, the pair looks to strengthen further having resumed its nearer term uptrend.
EURUSD: Recovering But Vulnerable.
EURUSD: Attempts at building on recovery gains continue to be seen but with price hesitation. Additionally, as long as the 1.4339 level, its May 13’2011 high and the 1.4422 level, its May 11’2011 hold as resistance levels, our bias remains lower. On the downside, below the 1.4046 level, its May 16’2011 low will reverse its present recovery attempt and turn risk towards the 1.4020/00 levels, its mar 28’2011 low/psycho level. A combination of these levels should halt declines if seen and turn the pair back up. Further down, the 1.3852 level comes in as the next downside target. Alternatively, on a violation of 1.4339 level and the 1.4422 level, further strength should build up towards its May 06’2011 high at 1.4586 and ultimately the 1.4938 level, its 2011 high. All in all, though attempting a recovery, it remains vulnerable to the downside nearer term. Subscribe To Our New Subscription Plan,The Pro Plus. The Pro Plus - is a -10 currency pair technical research report for both intra-day and swing traders designed to help you navigate the forex market easily and successfully daily. 
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