EUR/USD Outlook for Jan 29
| January 29, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
Downward pressure continues on the EUR having just made new (recent) lows and nearly reaching 1.3900. A minor support band is likely from 1.3920-1.3900. With little support beyond this, a break below 1.3900 will target 1.3800. Some support may develop at 1.3860 and 1.3830 along the way.
Resistance comes in at 1.3950 followed by 1.3980-1.4000. A push back up through 1.4000 is likely to test the short-term swing highs at 1.4030 and 1.4050.
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