Eur/Usd stayed within a narrow range yesterday
Fri, Sep 3 2010, 06:14 GMT
by Carol Harmer
EUR/USD

Eur/Usd stayed within a narrow range yesterday, leaving the outlook unchanged.. We came higher yesterday, reaching 1.2848.
We have support at 1.2780 and as long as we can maintain above here we should trade higher. We should be able to continue higher with 1.2850/60 once more targeted.
Buyers are advised to cover ahead of this resistance. Sellers are expected here, and this should prove to be quite a difficult barrier to break. However if we do break 1.2860 buyers would be back into the market once more and we could trade higher then to 1.2920.
If 1.2780 is lost it would bolster the sellers confidence a bit and they would be willing to come back onto the market and take us lower for 1.2710/1.2690. They would cover shorts to here as buyers would be expected. However if we lose 1.2690 expect buyers to jump.







