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Currencies: Technical Strategies
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How to Catch the Next EUR/USD Move
Thu, Sep 25 2008, 12:16 GMT
by Andrei Pehar
The Euro has spent the past few days ranging against the US Dollar, after completing a perfect 61% to 161% Fibonacci move. How will we know when the next big move is under way?
The top end of the range is marked by a Fibonacci resistance level at 1.4708 - a break above this, followed by a re-test as support, would likely take us up to re-test the prior 1.4850 high, with a secondary target at 1.5078 should that break.
On the bottom, support is being provided by the 21 exponential moving average, and has gradually shifted from 1.4588 up to 1.4641. A break below these levels would likely take us down to 1.4480, perhaps 1.4452, with 1.4355 as a secondary target.
Published on Thu, Sep 25 2008, 12:25 GMT
Archive
- Has the Aussie Found Bottom?
Published On Wed, Oct 22 2008, 20:29 GMT - Next Levels to Watch for the EUR/USD
Published On Wed, Oct 8 2008, 21:08 GMT - How to Catch the Next EUR/USD Move
Published On Thu, Sep 25 2008, 12:16 GMT - Yen Ranges Against US Dollar
Published On Fri, Sep 19 2008, 01:19 GMT - Projected Bottom for the GBP/JPY
Published On Wed, Sep 10 2008, 13:48 GMT
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