•  
  • New York 20:08
  • London 01:08
  • Barcelona 02:08
  • Tokyo 10:08
  • Sydney 12:08
  • SignUp | Login

The best pair to trade now

9

1

EUR/USD: Bullish yet overbought

Wed, Nov 25 2009, 13:53 GMT
by Valeria Bednarik

FXstreet.com Independent Analyst Team


Pair remains strongly bullish despite overbought, with no signs of changing intraday bias for now. Above today’s high of 1.5095, we could expect more upside acceleration, and the pair approaching to the 1.5150 area, 76.4% of the monthly fall from 1.6038 to 1.2330. Over bought conditions at that level should be extreme, offering some counter trend retreat to the 1.5100 area.

Failure to extend the rally, and break under 1.5060 previous yearly high now first support for the pair, show trigger some downside corrective movement with immediate support at the 1.5000/20 area.

e

Follow the markets with the author of the The best pair to trade now report:

Valeria Bednarik in her blog The advisor Blog.


Archive

FXstreet.com  | Portaferrissa 7, 1r 2a, Barcelona 08002, Catalonia - Spain
http://www.fxstreet.com | analyst@fxstreet.com

Legal disclaimer and risk disclosure

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Related reports

U.S. Forex Market Commentary by GCI
Tue, Feb 9 2010, 22:21 GMT

USDJPY Chartist Analysis by FXBoss
Tue, Feb 9 2010, 15:45 GMT

USD lower pressured by Greek rescue hopes by Easy Forex
Tue, Feb 9 2010, 15:22 GMT

Euro is catching a breather on Tuesday by Wells Fargo Investments, LLC
Tue, Feb 9 2010, 14:54 GMT

Hopes of tackling budget deficit in Greece sap demand on refuges by ecPulse.com
Tue, Feb 9 2010, 14:49 GMT

eurusd, highlighted, techexclusive

[ View All ]

Related content

USD/JPY Current Price: 89.75
FXstreet.com | Tue, Feb 9 2010, 23:36 GMT

GBP/USD Current price: 1.5702
FXstreet.com | Tue, Feb 9 2010, 23:34 GMT

EUR/USD Current price: 1.3792
FXstreet.com | Tue, Feb 9 2010, 23:31 GMT

Forex: EUR/USD surges on a possible Greek rescue. Trades above1.3700
FXstreet.com | Tue, Feb 9 2010, 23:31 GMT

Cititechs in form and long EUR/USD
Forex Live | Tue, Feb 9 2010, 22:58 GMT

eurusd, highlighted, techexclusive

[ View All ]

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.