| EUR-USD Technical - 29/March |
| Written by Praful Patat | ||||||||||||||||||||
| Tuesday, 29 March 2011 05:30 | ||||||||||||||||||||
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EURUSD is forming ABCD pattern and also gartley pattern on 1 hour chart, pattern confirm at 1.4140, 1.4172 area. 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 break of 1.4020 support further down toward next support at 1.3963 on intraday otherwise continues going up side toward extension.
Strategy: EURUSD buy 1.4080 target 1.4140, 1.4170 with stop loss 1.4020 or sell at 1.4140, 1.4170 area target 100 pip with stop loss 1.4205
New High: 1.4101, 1.4148, 1.4133.
New Low: 1.4007, 1.4054, 1.4039.
R3-1.4168, R2-1.4132, R1-1.4110, PP-1.4073, S1-1.4037, S2-1.4015, S3-1.3979.
EURUSD is forming ABCD pattern and also gartley pattern on 1 hour chart, pattern confirm at 1.4140, 1.4172 area. 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 break of 1.4020 support further down toward next support at 1.3963 on intraday otherwise continues going up side toward extension. Strategy: EURUSD buy 1.4080 target 1.4140, 1.4170 with stop loss 1.4020 or sell at 1.4140, 1.4170 area target 100 pip with stop loss 1.4205 New High: 1.4101, 1.4148, 1.4133. New Low: 1.4007, 1.4054, 1.4039. Pivot: R3-1.4168, R2-1.4132, R1-1.4110, PP-1.4073, S1-1.4037, S2-1.4015, S3-1.3979.
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