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EUR/USD - Next key support now resides at 1.4700 - Bears taking over?

Posted on September 23, 2009 at 17:41 in Uncategorized by Pierre Charlebois

Price action stalled briefly at 1.4730 and struck the lower trend-line at 1.4700. This is now the next key support. A break below that level adds to the bear view.

2 Responses to “EUR/USD - Next key support now resides at 1.4700 - Bears taking over?”

  1. on 24 Sep 2009 at 7:54 am1j.j

    Dear Pierre hi, would you pls adv. on how you see the Euro/$ move today.
    regards

  2. on 24 Sep 2009 at 11:06 am2Pierre Charlebois

    Hi JJ.

    Well, I only saw your post now and the move for the day is mostly over.

    The 1.4700 level is going to remain important now. Let’s see if it acts as resistance.

    The structure of the move down is still not as impulsive as I would like to see so a recovery back up is still a risk.

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