Quiet with a downward bias. EURUSD has resistance at 1.4817. Support at 1.4780
The market has been stuck in a narrow range as the quasi holiday keeps markets in check. However, a move back to the lower dollar has been re-kindled.
The EURUSD has moved back up over the 1.4800 level after reaching a low of 1.4783 since the high was reached earlier today. The 1.4817 level remains the next upside target for the pair. This was the high from last week. The high for 2009 has been 1.4844. There is addtional target resistance in the EURUSD at 1.4866 for the pair.
The price remains above the 100 hour MA (blue line in chart above) which is down a the 1.4732 level and above the 100 bar MA on the 5 minute chart which has risen up to the 1.4780 currently. The consolidation of the market in NY has allowed the MA on this 5 minute chart to catch up. The market tends to use this moving average as a barometer for the short term movement. Look for a test at 1.4780 to find buyers against the level on dips. A break of the moving average should lead to lower levels with 1.4761 the next target, followed by 1.4745.
Loading ...
Dear Greg,
I thank you alot for this GOOD analysis.
It reaches the support of 1.4765 then it moves on 13,oct. to the target resistance 1.4866.
ALL of us thank you n appreciate what your are doing for us.
I never see such analysis,it sometimes similar to a prediction,sure there is a rich experience n smart person behaind it.
Because of these all I will open an account with FXDD as an appreciation for
these three:-
1-good-reach teaching.
2-good analysis.
3-very good service with care for the FX traders.
Best Regards,
Saud
1-good-reach teaching. = 1-good and rich of knowledge teaching.