May 25, 2010
Euro Rallies after Technical Rebound
The Euro recovered into the close after testing the low for the year at 1.2143. If this low holds, then it will mean that last week’s reversal bottom is still intact
while indicating that buyers have stepped in to support the currency.
The best sign that a bottom is being formed and that today’s action was a successful test of the low was the regaining of the Fibonacci retracement level at 1.2345.
Holding …
