EU/USD

Yesterday EUR/USD broke below the 20- and 50-days Moving Averages. Market bias is to the downside and before the end of this week we can see a test of the strong support levels @ 1.5365 and 1.5280. A break below the latter will boost the dollar with next targets 1.5145 and 1.4965. Upside corrections should provide better sell opportunities. Resistance is @ 1.5485, 1.5560/70.

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This entry was posted on June 11th, 2008 and is filed under Forex Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or Trackback from your own site.