EURUSD: Targeting The 1.3720/38 Levels.
EURUSD: Our call for short term uptrend continuation continues to play as out as EUR closed higher Tuesday and was seen heading higher in early morning trading today. This price development now leaves the 1.3720/38 level, Mar 04’09/May 13’09 highs being targeted with a loss of there activating 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. Its weekly studies have turned higher and are bullish suggesting further strength. On the contrary, correcting lower will suggest a move towards the 1.3446 level which is the location of its 200 daily ema with a loss of 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, having halted its corrective declines the pair now looks to head back up towards the 1.3720/38 zone.
Support Comments
1.3446 Daily 200 ema
1.3385 April 30’09 high
1.3213 May 04’09 low
Resistance Comments
1.3720/38 Mar 04’09/May 13’09 highs
1.3964 Jan 05’09 high
1.4363 Dec 29’08 high

EURUSD: Targeting The 1.3720/38 Levels.

EURUSD: Our call for short term uptrend continuation continues to play as out as EUR closed higher Tuesday and was seen heading higher in early morning trading today. This price development now leaves the 1.3720/38 level, Mar 04’09/May 13’09 highs being targeted with a loss of there activating 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. Its weekly studies have turned higher and are bullish suggesting further strength. On the contrary, correcting lower will suggest a move towards the 1.3446 level which is the location of its 200 daily ema with a loss of 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, having halted its corrective declines the pair now looks to head back up towards the 1.3720/38 zone.

Support Comments

1.3446 Daily 200 ema

1.3385 April 30’09 high

1.3213 May 04’09 low


Resistance Comments

1.3720/38 Mar 04’09/May 13’09 highs

1.3964 Jan 05’09 high

1.4363 Dec 29’08 high

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