The latest rally has stalled out just shy of our initial objective at 92.55 with the market initially well capped by the bottom of the Ichimoku cloud. Daily studies do however still show plenty of room to run, and we maintain our constructive outlook since the pair based out by 88.00. A higher low is now sought above 89.00, to be confirmed on an eventual break back above 92.55. Back under 89.00 however, will negate and put pressure on downside with market participants eying a retest of the critical 87.15 matched trend lows from 2008 and 2009.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
FX-underground
Euro Exchange RateOTHERS
Disclaimer:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Any opinions, analyses, prices, or other information contained on this blog is provided as general market commentary, and does not constitute investment advice.
0 komentar:
Posting Komentar