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Daily Forex Technicals |
Written by FXTechstrategy |
Feb 02 12 10:58 GMT
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EURUSD - Biased To The Upside Nearer Term But Continues To Consolidate
EURUSD - The pair will have to break and hold above the 1.3233 level, its Jan 27'2012 high to prevent a return to the 1.3025 level, its Feb 01'2012 low. If the latter occurs, EUR will decline further towards the 1.2930 level, its Jan 25'2011 low. Further down, support lies at the 1.2856/75 level, its Dec 29'2011 low/Jan 2011 low. Its daily RSI is bearish and pointing lower supporting this view. Alternatively, the pair will have to return to the 1.3233 level to annul its present price hesitation where a breach will set the stage for further strength towards the 1.3375 level, its Dec 12'12 high ahead of its Dec 02'2011 high at 1.3547. All in all, though still retaining its nearer term uptrend, it faces prices hesitation.
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About the Author
Mohammed Isah
Market Analyst
www.fxtechstrategy.com
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report
