|
Daily Forex Technicals |
Written by FXTechstrategy |
Feb 22 12 09:15 GMT
|
EURUSD - Hesitating With Upside Bias
EURUSD - Although hesitating, EUR remains biased to the upside with eyes on the 1.3322 level traded on Feb 09'2012. A break of here will aim at the 1.3375 level, its Dec 12'12 high followed by its Dec 02'2011 high at 1.3547. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, the risk is for EUR to return below the 1.3026 level, Feb 06'2012 low followed by the 1.2975 level. A breach of there will set the stage for further declines towards the 1.2930 level, its Jan 25'2011 low. Below here will call for more declines towards its Jan 23'2012 low. All in all, the immediate risk remains higher with the risk of retargeting the 1.3322 Level.
|
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
