fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for EURO Fri Nov 29, 2013 9:26 am | |
| Technical Analysis for EURO The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625 – 1.3630. The possibility of extending the upside move is valid today but the pair has to breach 1.3630 to trigger another bullish wave targeting 1.3705 and perhaps 1.3770 levels later. Anyhow, trading above 1.3500 is positive but consolidating above 1.3555 is required over intraday basis today to keep the bullish possibility. Support: 1.3600, 1.3580, 1.3555, 1.3500, 1.3470 Resistance: 1.3630, 1.3660, 1.3705, 1.3745, 1.3770 Recommendation Based on the above, buy the pair above 1.3605 targeting 1.3660, 1.3705 then 1.3770 and stop-loss at four-hour closing below 1.3555 | |
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