The Advisor Weblog

Follow the markets with Valeria Bednarik, Chief Analyst of the FXstreet.com Independent Analyst Team

Or subscribe via email:

FXstreet.com Weblogs

Links

Money and Markets

Eur/Usd going down

Posted on February 18, 2009 at 11:07 in Short-Term Analysis by Valeria Bednarik

4 hours indicators seem a bit exhausted to the downside, yet the pair remains close to first critical support zone 1.2557 (already tested twice today) as Euro remains weak on a very negative sentiment. In the longer term, a clear break under 1.2545/57 could mean a retest of 1.2330, last October minimum. Under that price, today’s supports will be at 1.2510, 1.2458, and 1.2420 zone.Upside correction will find resistances at 1.2600, 1.2645, and the zone around 1.2680. Clear break above is needed to deny more falls today.

Tags: eurusd

One Response to “Eur/Usd going down”

on 18 Feb 2009 at 1:25 pm1graham

Follow you on a daily basis. You are very good with your brief discriptions and seem to be right on with your analysis.

Thank you

Theme by Forex Street Powered by Wordpress

The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.