EURUSD: Strengthening With Eyes On The 1.3738 Level.
EURUSD: With strength continued to be seen following its recent sharp rally, risk of further upside remains on the cards with 1.3738 level being targeted. As long as EUR maintains above its major emas and its broken declining channel, our outlook on the pair remains higher. Above the 1.3738 level will activate its short term recovery initiated at the 1.2456 level, its Mar 04’09 high towards its Jan 05’09 high at 1.3964.Beyond the latter will leave the pair aiming at the 1.4363 level, its Dec 29’08 high. However, on any pullbacks from its current price levels, the 1.3439 level which is the location of its 200 daily ema will be aimed with a loss there accelerating declines towards the 1.3385 level, its April 30’09 high ahead of the 1.3213 level, its May 04’09 low. On the whole, though correcting the pair’s outlook remains to the upside.
Support Comments
1.3439 Daily 200 ema
1.3385 April 30’09 high
1.3213 May 04’09 low
Resistance Comments
1.3666 May 11’09 high
1.3738 Mar 04’09 high
1.3964 Jan 05’09 high

EURUSD: Strengthening With Eyes On The 1.3738 Level.

EURUSD: With strength continued to be seen following its recent sharp rally, risk of further upside remains on the cards with 1.3738 level being targeted. As long as EUR maintains above its major emas and its broken declining channel, our outlook on the pair remains higher. Above the 1.3738 level will activate its short term recovery initiated at the 1.2456 level, its Mar 04’09 high towards its Jan 05’09 high at 1.3964.Beyond the latter will leave the pair aiming at the 1.4363 level, its Dec 29’08 high. However, on any pullbacks from its current price levels, the 1.3439 level which is the location of its 200 daily ema will be aimed with a loss there accelerating declines towards the 1.3385 level, its April 30’09 high ahead of the 1.3213 level, its May 04’09 low. On the whole, though correcting the pair’s outlook remains to the upside.

Support Comments

1.3439 Daily 200 ema

1.3385 April 30’09 high

1.3213 May 04’09 low

Resistance Comments

1.3666 May 11’09 high

1.3738 Mar 04’09 high

1.3964 Jan 05’09 high

eurusd16.gif

This is an excerpt from FXT Technical Strategist Plus, a 7-currency model analysis. Take A One Week Free Trial atwww.fxtechstrategy.com

This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report