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EUR/USD Technical - 18/Feb
Written by Praful Patat   
Friday, 18 February 2011 05:43

 

EURUSD is forming channel in range, still in progress, break of 1.3621 Fib No. (61.8%), further going up side toward 1.3662 Fib No.(74.6%) from 1.3742 to 1.3427.Break of 1.3535 daily support further going down side to 1.3401 (127.2%),(161.8%) extension from 1.3507 to 1.3860.Break of 1.3621 level further going upside toward 1.3662. EURUSD break of channel line, further going upside 1.3742 as per channel length.  Possibility to selling pressure will come from 1.3621, 1.3662 area and break of this flag pattern on 4 hour chart further going next to 1.3742 daily resistance then will come down to 1.3505 point C from 1.3426 to 1.3742 (61.8%) at 1.3547, (74.6%) at 1.3505
Strategy: Sell from resistance with stop loss 1.3696
New High:  1.3614, 1.3655, 1.3650
New Low:  1.3532, 1.3573, 1.3568
R3-1.3669, R2-1.3638, R1-1.3618, PP-1.3587, S1-1.3556, S2-1.3537, S3-1.3505

EURUSD is forming channel in range, still in progress, break of 1.3621 Fib No. (61.8%), further going up side toward 1.3662 Fib No.(74.6%) from 1.3742 to 1.3427.Break of 1.3535 daily support further going down side to 1.3401 (127.2%),(161.8%) extension from 1.3507 to 1.3860.Break of 1.3621 level further going upside toward 1.3662. EURUSD break of channel line, further going upside 1.3742 as per channel length.  Possibility to selling pressure will come from 1.3621, 1.3662 area and break of this flag pattern on 4 hour chart further going next to 1.3742 daily resistance then will come down to 1.3505 point C from 1.3426 to 1.3742 (61.8%) at 1.3547, (74.6%) at 1.3505

Strategy: Sell from resistance with stop loss 1.3696

New High:  1.3614, 1.3655, 1.3650

New Low:  1.3532, 1.3573, 1.3568

Pivot:

R3-1.3669,

R2-1.3638,

R1-1.3618,

PP-1.3587,

S1-1.3556,

S2-1.3537,

S3-1.3505