12/22/2008 – EUR/USD – Within the context of the remarkable bullish run of the past couple of weeks, price action on EUR/USD (a daily chart of which is shown) has retraced to a significant support/resistance level. This level is supported by a key prior S/R zone around 1.3830-1.3880 region. It is also supported by an important 38.2% Fibonacci retracement level (the low-to-high retracement span being measured from the low on 12/4/2008 to the high reached just last week on 12/18/2008). A strong break below this significant support level could target further support around the 1.3650 level, which coincides with a 50% ... (full story)