Thursday May 13, 2010 - 21:29:40 GMT
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Fxtimes: Daily Technical Update EUR/USD Tests 1.2520; Eyes 1.2350
Daily Technical Update
May 13, 2010
EUR/USD Tests 1.2520; Eyes 1.2350
- 4H: Following yesterdayâ€™s EUR/USD update, we see that the 1.26 broke as support, and the market is now looking to break the previous minor low at 1.2520.
- A break below this suggests the swing projection will materialize to complete near 1.2350. Note this is near the 150% extended retracement of a rally that was 61.8% retracement of a previous downswing, in my opinion a proportionate move.
Commodity Trading Advisor
Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analyses.
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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