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Expect Another Euro Wave Lower, Against the Yen
With the Euro quickly approaching resistance at 103 against the Japanese yen, some are wondering if the current momentum still has staying power. The answer lies in the currency pair’s momentum as it approaches the round figure barrier. The 103 resistance level has been tested 4 times in last week and half. The last time, the price action broke through the resistance level briefly – only to fall back through moments later. Given technical indications, the scenario is likely to happen again. Referring to technical analysis 101, the more times a technical barrier is tested, the more resilient that level becomes. ... (full story)
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- Feb 16, 2012 12:39pm Feb 16, 2012 12:39pm
- msmarple
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- torkay77
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- msmarple
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Be like water.