GBPUSD breaks above 100 hour MA. EURUSD tests 200 hour MA
Written February 9, 2010 at 12:26 PM EST by Greg Michalowski
EURUSD
The EURUSD has 200 hour MA at the 1.3841 level. A break clears the way for a move to 1.3858 and then 1.3965.
GBPUSD
GBPUSD has support at 1.5710 where 100 hour MA is found and resistance at 1.5737 where 38.2% is found. Longer term, a break higher could see the price move toward the 1.5864 level where the 200 hour MA is found (green line in the hourly chart above). Looking at the daily chart, the 38.2% retracement of the last move down which comes in at 1.5886.
USDJPY
Resistance at 89.78. Support at the 38.2% retracement level at the 89.58.
Categories: Forex Trading |
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