EURUSD keeps 1.3735 as the lid for now at least

Written March 16, 2010 at 9:38 AM EST by  

gregmike-00848

The 1.3735 level was the high from March 3rd.  Yesterday, the market stalled at this level before giving way and moving lower. Today, the price is back up testing this level.   The high reached in the last few minutes found sellers against the level and we have seen the price rotate back down.  The 1.3691 level will continue to be watched below where the 100 hour MA and the old highs and lows through March have increased the importance of the level.   1.3704, the high from March 8th is also a level to watch below. 

The FOMC rate decision is later today. That and perhaps the London fixing at 12:00 noon today will cause some fireworks (there is some talk that EURGBP may be pressured and this may keep a lid on the EURUSD).  At the moment we are just range trading.

2 Responses to “EURUSD keeps 1.3735 as the lid for now at least”

  1. Edi on March 16th, 2010 11:01 am

    It fly now… 1.3771 what’s going on? Pls advise

  2. Greg Michalowski on March 16th, 2010 11:13 am

    See http://forex.fxdd.com/75507/forex-trading/eurusd-breaks-higher-2
    Greece removed from S& P watch list helped push the EURUSD through the resistance at 1.3735.

Add a comment