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EUR/USD Daily Technical Forex

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EUR/USD Daily Technical Forex

Fri, Sep 21 2007, 07:24 GMT
by Timothy Straiton

Stoploss.ch


Current level at 09:24 is 1.4080, trading above the daily pivot point of 1.4037 and having recorded a new high this morning of 1.4121. Resistance levels today are set at 1.4122 and then 1.4183. Support levels are 1.3986 and then 1.3891. Based on the 1.3361 - 1.3852 range, the 61.8 percent Fibo projection target is within shooting range at 1.4155. The top channel resistance line from the high of 1.1914 from October 1998 comes in at 1.4296. We expect these levels to contain the upside this time around, particularly in light of the over-bought levels displayed in the weekly and daily 14 period RSIs of 68, respectively 76 percent.

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