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EURUSD: Recovery To Target The 1.2921 Level |
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Technical Archives |
Written by FXTechstrategy |
Sep 01 10 15:08 GMT
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EURUSD: Recovery To Target The 1.2921 Level
EURUSD: With a rally seeing the pair pushing above its minor resistance at the 1.2770 level, its Aug'27'10 high, recovery strength could be developing towards its Aug 18'10 high at 1.2921. Further out, resistance is located at the 1.3332 level with a break resuming its short term uptrend towards its .50. Fib Ret (1.5143-1.1875 decline) at 1.3500 and then the 1.3691 level, its April 12'10 high. Conversely, if weakness is seen the1.2586 level, its Aug 24'10 low will be targeted followed by the 1.2522 level, its July 13'10 high. Further weakness if seen will aim at its Jun 20'10 high at 1.2466 and possibly lower. Overall, with bull pressure developing again, higher level prices are seen.
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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
