| EUR-USD Technical - 28/March |
| Written by Praful Patat | ||||||||||||||||||||
| Monday, 28 March 2011 05:17 | ||||||||||||||||||||
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EURUSD still in uptrend zone and forming counter pattern on 1 hour chart. EURUSD backed from Fib No. 50.0% at 1.4057 from 1.3856 to 1.4246, extension 127.2% at 1.4347, 161.8% at 1.4478, this is only possible If break of 1.4200 resistance which is 78.6% from 1.4246 to 1.4052 still in progress. EURUSD continues going down toward 1.4011, 1.3962 like “M” shape pattern on 1 hour chart. EURUSD break of 1.4026 support further down toward next support at 1.3963 on intraday. In EURUSD retracement is possible toward 1.4094 resistance then down toward extension.
Strategy: EURUSD buy from support or sell from resistance.
New High: 1.4136, 1.4205, 1.4147.
New Low: 1.3998, 1.4067, 1.4009.
R3-1.4250, R2-1.4197, R1-1.4164, PP-1.4111, S1-1.4059, S2-1.4026, S3-1.3973.
EURUSD still in uptrend zone and forming counter pattern on 1 hour chart. EURUSD backed from Fib No. 50.0% at 1.4057 from 1.3856 to 1.4246, extension 127.2% at 1.4347, 161.8% at 1.4478, this is only possible If break of 1.4200 resistance which is 78.6% from 1.4246 to 1.4052 still in progress. EURUSD continues going down toward 1.4011, 1.3962 like “M” shape pattern on 1 hour chart. EURUSD break of 1.4026 support further down toward next support at 1.3963 on intraday. In EURUSD retracement is possible toward 1.4094 resistance then down toward extension. Strategy: EURUSD buy from support or sell from resistance. New High: 1.4136, 1.4205, 1.4147. New Low: 1.3998, 1.4067, 1.4009. Pivot: R3-1.4250, R2-1.4197, R1-1.4164, PP-1.4111, S1-1.4059, S2-1.4026, S3-1.3973.
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