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Eur/Usd technical points

Posted on March 4, 2009 at 11:29 in Short-Term Analysis by Valeria Bednarik

Just technical, no personal opinions here! I promise I will try. The pair is quoting just around the 1.2520 level, after setting a new low yesterday at 1.2456. Indicators are quite flat, not giving any clear signal, as said earlier, either way. Yet the 20 SMA is clearly pointing to the downside, and the pair has no aims to rise. Under 1.2490, the pair could attempt to retest the low’s zone around 1.2460, followed by 1.2423, and 1.2386 zone, before the 1.2330 critical zone. Above 1,2560/70 next resistances will be at 1.2600/20 zone, and above 1.2660.

Tags: eurusd

2 Responses to “Eur/Usd technical points”

on 04 Mar 2009 at 1:02 pm1Tomek

Hi Val
Could you tell me more about moving averages
20MA=20SMA? by this one you predict trend direction for shorter term?
200MA=200SMA? which would be adequately for a longer term?
any other and how to use them?
Thanks & Regards
Tomek
on 04 Mar 2009 at 2:18 pm2Valeria Bednarik

Hi Tomek! I can see that each particular currency has a certain behaviour. Gbp usually respects very good the 20 SMA (nothing is forever)and yes, helps to “predict” market direction. I don’t use longer simple ones. I rather use EMA of 200 and 60, in longer time time frames. Moving averages have plenty of uses.. I will made a webinar to explain them all.
Regards
Val

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