Tuesday, January 25, 2011

EURUSD rally and now above the support area.


EURUSD is now above the support level after rebound from the support area. The price is testing the resistance top. The intermediate support level is at daily pivot at 1.3622. If break above the resistance is at 1.3685, the pair may rally to the next resistance of 1.3750.


EURUSD is yesterday had a spinning top candlestick indicating price is stalling or undecided. The support level is at 1.3450 and resistance is at 1.3750. The 25MA is about to cross the 100MA and turn the trend to long term bullish.


EURUSD has the possibility to reverse at the mark area. 



By The Backyard Burner

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Fear of failure

Fear of failure