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EURUSD: Vulnerable To The 1.3433 Level |
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Technical Archives |
Written by FXTechstrategy |
Mar 21 10 13:31 GMT
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EURUSD: Vulnerable To The 1.3433 Level
EURUSD: Having closed lower for the week after failing at the 1.3816 level and collapsing through its key supports to wipe out its previous week gains, risk of further declines towards its 2010 low sited at 1.3433 is now seen. That level preserves its consolidation to corrective bias but if it snaps, we will be in for the resumption of its broader medium term weakness triggered off the 1.5143 level in Nov'09. This development will target its Jun 03'09 low at 1.3211 and its big psycho level located at 1.3000.However, if the 1.3433 level holds and turns off the pair, we should see the continuation of its consolidation with upside objectives seen at its Mar 15'10 low at 1.3638, its Mar 17'10 high at 1.3816 and the 1.3838 level, its Feb 09'10 high with a loss of the latter creating scope for further upside gains towards its Feb 03'10 high sited at 1.4025.
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About the AuthorMohammed 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 |
