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الأربعاء، 2 فبراير 2011

EUR/USD: Bullish up 1.3740


Despite 4 hours chart shows indicators heading lower above their midlines, euro managed to close the day above 1.3800 against the greenback, as dips are being seen as buying opportunities in this bullish trend the pair is involved. With 20 SMA converging with the 61.8% retracement of Fibonacci at 1.3740, bias bullish will remain intact as long as above that level. An acceleration above 1.3830, should signal a continuation rally towards 1.3880 area first, followed them by 1.3910/20 area.

Below 1.3730 pair could extend the bearish corrective movement towards the 1.3650/60 price zone

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