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Home » Forex Trading: EURUSD better bid in NY but in between Support and resistance

Forex Trading: EURUSD better bid in NY but in between Support and resistance

Posted by Greg Michalowski on Mon, 05/05/2008 - 8:43am in

Commodities and oil are higher this morning.  This tends to lead to a lower dollar.  The EURUSD has moved above the 21 hour moving averagae and seems to have bottomed for the time being.  A target level would be the 100 hour moving average at the 1.5520 area.  Support comes in at the 21 hour moving average at 1.5451.

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