Monday February 22, 2010 - 20:08:00 GMT
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FXTimes: Daily Technical Update EUR/USD Eyes 1.33
Daily Technical Update
February 22, 2010
EUR/USD Eyes 1.33
- 4H: The EUR/USD pair is showing signs of continuing decline after the Fed raised discount rate last week. (Refer to Daily Technical Update 2.19.2010 EUR/USD).
- The price action filled the gap the week started with, and the 4H bearish candle so far is the dominant one.
- The stochastic confirms with a crossover in the bearish region.
- A 100% swing projection of the ab swing to cd goes to the 161.8% extended retracement of the the bc swing.
- A break below 1.3580 may be confirmation
- Daily: This projection is also confluent to a daily time-frame projection.
- The 1.33 area is just below the 138.2% projection of the previous downswing.
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All screenshots are made from VT Trader 2.0 and are of actual market data at the time of the screenshot.
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