EUR/USD Lacking Direction

Written July 9, 2009 at 9:10 PM EST by  

The EUR/USD has been a victim of market volatility and the chart below depicts this fact very effectively. This old perspective seems to still be playing in some ways with the former trendline support acting like strong resistance in the prior session and the 21 hour moving average looking top provide some support, as it has regularly in this ranging market. A break of the 21 hr should lead us toward the 100 hr moving average and possibly a push back over the 1.41 level, otherwise the 1.3750 support level comes into play.

eurusd1

eurusd2

One Response to “EUR/USD Lacking Direction”

  1. Temitope on July 9th, 2009 11:19 pm

    You this guys are doing a great job. Your prediction is as sure as heaven itself. Keep this good job up.

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