EURUSD consolidates in NY trade
Written January 23, 2012 at 9:20 AM EST by Greg Michalowski
The EURUSD has consolidated at the top of the days trade. There is some lower highs in place but so far, no lower lows on the intraday chart. A move below the above trendline support at the 1.3010 wil need to be made followed by moves below recent lows in the same chart. The 1.3007, 1.2997 and the 1.2984 prices which need to be taken out. The high from last week came in at the 1.3084 level. This will be a key level for any sellers .
Until these low levels can be broken the upside buyers remain in charge. The topside target comes in at the 1.3068 area (see hourly chart below). The 1.30848 level is the midpoint of the move down from the December high to the January low.
Categories: Forex Trading |
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