EURUSD flushes down further as the 1.5047 level gives way
Written November 26, 2009 at 10:10 AM EST by Greg Michalowski
The EURUSD moved through the 1.5047 level and tracked down the next support area at the 1.5020 level. The low reached 1.5017 and has bounced. The upside will now have the 1.5047 level as resistance. The 100 bar MA at the 1.5072 level and coming down is another upside resistance level. On the downside, the 1.5020 area and 1.5000 level are the next targets.
London goes home shortly, which may/should slow down activity (12 noon). However we cannot discount some more fireworks from 11-12 NY time as positions are squared.
Categories: Forex Trading | Tags: EUR/USD
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