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Jul 24
Forex EUR/USD - May 18, 2011: Testing To 1.4140
Wednesday, 18 May 2011 05:15

Yesterday: Open 1.4161 High 1.4240 Low 1.4120 Close 1.4238

Yesterday since the trade in the Asian session started, the euro tends to move sideways movement with the trend toward the diagonal line. Until it reaches about 50 pips from its diagonal trend lines, the euro plummeted some 100 pips to the lowest daily movements of the euro at 1.4120 Then again rebounded to reach the highest level at 1.4240 daily.

Currently, the Euro look going back bearish.

There is no focus on economic data today for EUR / USD.

If the price increases continue to open opportunities to the 1.4341 resistance level

20110518_eur

Conversely if the decline continues, the price opened up opportunities leading to the level of 1.4140 and 1.4047.

Prices shown on the graph H1 and M10 MA05 line will go to the bearish conditions.

While the Stochastic indicator indicating the bearish conditions.