EUR/USD day trading analysis for November 2, 2009

Late trading on Friday and early trading Monday has seen the EUR fall to very near Thursday’s low.

1.4680 offers support in conjunction with minor support at 1.4700 for the EUR/USD pair. A breach of this region suggests a further decline. Support/targets on a further decline Monday are 1.4660, 1.4620 and 1.4600.

A rise above 1.4760 indicates a short-term rise. Target on the upside is 1.4800 followed by 1.4840-1.4860 if needed.

Looking for an analysis of the stock market? You can view my analysis of the S&P for the week of Nov 2 -6 on the blog post below, or here: http://vantagepointtrading.com/archives/2058

Cory Mitchell, CMT
Chief Market Strategist
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