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Eur/Usd Technical perspective

Posted on November 5, 2009 at 10:39 in Short-Term Analysis by Valeria Bednarik

If we place a Fibo in the last daily downleg, from 1.5062 to the 1.4625 lows, yesterday’s spike reached the 61.8% retracement. Now pair is hovering around the 50%, with indicators pointing to the downside, yet price moving above every MA. A clear acceleration under 1.4800/10, could send the pair to the 1.4770 area, followed by 1.4740. To the upside, I would like to see a 4 hours candle opening above 1.4860 to confirm more bullish bias, with 1.4890, 1.4925 and the 1.4970 area as next resistances to consider.

Tags: eurusd

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