EURUSD maintains the floor at 1.4843 area and ceiling against 1.4894 currently
Written November 19, 2009 at 11:03 AM EST by Greg Michalowski
The EURUSD has continued to maintain a floor against the 1.4845 area (low was 1.4843). The price has moved above the 100 bar MA on two occasions in the NY session but has not been able to pressure the 200 bar MA. The consolidation phase has focused the price action between the 1.4894 and the 1.4843 level.
Use the 100 bar MA (currently at 1.4868) as the bullish/bias indicator. Price above is bullish, below bearish. Confirmation of direction comes on the breaks of the consoldation range extremes at the 1.4894 and 1.4843 levels, but look for buyers and sellers initially at those extremes.
Categories: Forex Trading |
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Hello Greg,
Thanks for the interesting comment’s and info’s on the martket’s.
Just a small thing-on Eur/USD u seems like u’r getting mixed up with the #’s 5 & 8.U must have ment 4845/4843 and not 4545.
Keep up the good work.Am always looking forward to see your report.
thanks
=Atma
Whoops..> I edited the text… Thank you…..Greg