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Eur/Usd preparing to continue down

Posted on January 6, 2009 at 10:57 in Short-Term Analysis by Valeria Bednarik

If you wonder how much do technicals work, see how the 200 EMA was respected yesterday by the pair, till finally get broken in the last 4 hours candle (as I always said, no support or resistance, not matter if static or dynamic, will hold for ever) and also the base of the channel is being vulnerate right now (we need a new candle opening under to confirmate the break down) so we could consider 1.3352 to be first support for today, followed by the zone @ 1.3305, and finally 1.3256. Also see the pair is under the 61.8% of the last upleg, so chances to the downside remain strong at the moment. Regarding resistances, above 1.3430 the pair could recover some ground targeting the 1.3500 zone as a first key level.

 

 

Tags: eurusd

2 Responses to “Eur/Usd preparing to continue down”

  1. on 06 Jan 2009 at 2:58 pm1Adam Geldersma

    Yeah, you’re right. I heard a lot of talk about the Euro maybe holding steady, but I got out at the start of the week. Don’t plan on touching the Euro until at least next week. I have no idea why people would want anything to do with the EUR/USD right now.

  2. on 07 Jan 2009 at 11:08 am2Valeria Bednarik

    Hi Adam! to be honest, despite today’s rise, i also see Euro more falling that rising, yet market is market! long term trades are not my stuff, I’m a short term trading. Anyway, when longer term definitions appear clear to me, I try to post them. At the moment in this first week of return to “normal” I rather wait topost longer term views.
    Tks for your comment!
    Regars
    Val

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