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EUR/USD Forex Day Trading Signals- Nov. 16
| November 16, 2009 | Posted by admin under Forex - EUR/USD |
The pair has pushed higher in early trading Monday, approaching minor resistance at 1.4980 If the pair get above 1.4990 it indicates a retest of the recent swing highs at 1.5015-1.5020. A further rise is likely to probe the major resistance area between 1.5045 and 1.5055. If that level breaks it indicates another swing higher in the longer term trend.
Several minor support levels are at 1.4920, 1.4900 and 1.4880 with movement through indicating a move to the next. More substantial support is at 1.4820. A movement below that level would indicate a larger downward correction, but this is not highly likely today unless news out of the US today comes in as a big surprise.
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