$EURUSD backs off as Trichet tames comments a bit
Written November 5, 2009 at 9:39 AM EST by Greg Michalowski
The “strong dollar” and a “bumpy road ahead” comments caused some liquidation. The pair has come below the support level at the 1.4881 level and indeed the waters are once again muddy (see prior post). The muddy water warrants finding levels that make sense from a risk reward standpoint. The close from yesterday at 1.4860 the 100 and 200 bar MA at the 1.4848 level should be good support levels. I would look for buyers against these levels.
Categories: Forex Trading |
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