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No relief for Euro

Posted on April 20, 2009 at 14:22 in Short-Term Analysis by Valeria Bednarik

As expected, Wall Street is falling down and dollar running high. Euro has breached under the 1.2900 and despite oversold state in all time frames from 4 hours to 15 minutes, no signs of an upturn yet. I expect the pair approach to the 1.2860 zone before attempting a recovery. Clear break under that zone, will find next support around 1.2820, witch seems a bit unlikely for me for today. Resistances from actual price lie at 1.2620, 1.2655 and close to 1.2700.

Tags: eurusd

2 Responses to “No relief for Euro”

on 20 Apr 2009 at 7:27 pm1madofo

dear valeria,
can you please tell us when do you expect eur to fall further ? do you see eur falling back to 1.25? what is your view for eur Vs Gbp?
thank you in advance
regards,
madofo
on 21 Apr 2009 at 12:43 pm2Valeria Bednarik

Hi Madofo, I expect the pair to continue falling when breaks under 1.2850/60 zone, key support at least for me, followed by the 1.2700 zone, and under that, yes seems likely and approach to the 1.25 level.
Eur/Gbp broke to the upside a descendant channel now consolidating. Bullsih bias above 0.8920 level seems the more likely scenario.
Regards
Val

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