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EURUSD - Still Looking Vulnerable |
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Technical Archives |
Written by FXTechstrategy |
Sep 08 10 11:15 GMT
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EURUSD - Still Looking Vulnerable
EURUSD - Although the pair is being threatened by the bears nearer term and now looks to target the 1.2624 and the 1.2586 level, its Aug 24'10 low, its overall short term uptrend triggered from the 1.1875 level still remains intact. With that said, while its present weakness is limited to the 1.2624 and the 1.2586 level, its Aug 24'10 low, we look for a return to the 1.3332 level, its Aug'2010 high. A break will resume its short-term uptrend and target its .50. Fib Ret (1.5143-1.1875 decline) at 1.3500 and then the 1.3691 level, its April 12'10 high. Alternatively, if its current weakness pushes the pair through the 1.2586 level, its Aug 24'10 low, further downside risk will open towards the 1.2522 level, its July 13'10 high and then its Jun 20'10 high at 1.2466 and possibly lower.
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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
