EURUSD Recovering; Still Far Below Key Resistance Levels

Quote of the day:“To know the road ahead, ask those coming back.” – Chinese Proverb
EURUSD – 1.4179 @06:48 GMT
Good morning. The euro is taking a breath after the large decline but current recovery is still modest. There’s more room to the upside until the euro will test key resistance, eventually. Meanwhile, interim resistance is seen at 1.4230/50, followed by 1.4350. Daily charts are bearish while the smaller time frame charts, such as hourly, are currently bullish. On the hourly charts we have two corrective movements (see charts below), one to 62% of 1.4340 to 1.4050 yesterday – suggesting that downtrend Read More

---

� 2011 FX Trading Blog - innerfx.com | Article Source | Post tags: EURUSD

Source: http://feedproxy.google.com/~r/innerfx/~3/zhWfH1JQoTU/eurusd-recovering-still-far-below-key-resistance-levels.html

forex trading signals forex trading software forex trading strategies forex trading strategy forex trading system forex trading systems forex trading tips