05-20-2010, 01:51 PM
|
|
Superior Investor
|
|
Join Date: Sep 2008
Posts: 11,435
|
|
EUR/USD Mid-Day Outlook
As noted before, a short term bottom is likely in place at 1.2143 with bullish convergence condition in 4 hours MACD. Break of 1.2443 resistance will confirm this case and bring stronger rebound towards 38.2% retracement of 1.3691 to 1.2143 at 1.2734. But upside should be limited below 1.3093 cluster resistance (61.8% retracement at 1.3100) and bring fall resumption. On the downside, below 1.2143 will target 1.20 psychological level next.
Read Full Out-Look by Action Forex |
Linear Mode
