EUR/USD Holding Above 1.2350; A Look at Retracement Levels

EUR/USD Holding Above 1.2350; A Look at Retracement Levels

From fxtimes.com

There’s been an influx of headlines regarding the debate going on in the eurozone on how to deal with the Grexit prospect, the Spanish banking woes, the theme of growth etc. The EUR/USD held above 1.2350 during the 5/31 European session and has corrected back above 1.24 as data from Germany gleamed in comparison with recent “anything” coming out of the eurozone. The market is gearing up for the US session, and the EUR/USD has retraced 23.6% of this weeks swing from 1.2616 to 1.2354. The 1.24 level would be the first level of renewed selling pressure. The RSI has resolved any short-term oversold condition, and ... (full story)

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Comment #1
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May 31, 2012 10:13am May 31, 2012 10:13am

Jayakatwang
| Commercial Member | Joined May 2012 | 92 Comments

i think eurusd will back on down after reach 1.2425 level (about 60 pip from open price today)__i ve floating short at 1,2422__i ll wait and see__and in my opinion eurusd will reach 1.2260

Comment #2
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May 31, 2012 11:51am May 31, 2012 11:51am

fxtimes
| Commercial Member | Joined Nov 2009 | 402 Comments

Quoting Jayakatwang

Disliked

i think eurusd will back on down after reach 1.2425 level (about 60 pip from open price today)__i ve floating short at 1,2422__i ll wait and see__and in my opinion eurusd will reach 1.2260

Ignored

Thanks for sharing
EUR/USD now has cracked 1.2350 and is so close to that 2008 low at 1.2330. will it hold above that ahead of the NFP?

- Fan

Comment #3
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May 31, 2012 2:55pm May 31, 2012 2:55pm

Jayakatwang
| Commercial Member | Joined May 2012 | 92 Comments

Quoting fxtimes

Disliked

Thanks for sharing
EUR/USD now has cracked 1.2350 and is so close to that 2008 low at 1.2330. will it hold above that ahead of the NFP?

- Fan

Ignored

you right eurusd still hold above 1,2330.. but there is 2 hours again for closing price today.
If eurusd closed at about current level(1,2370), it will be doji candle today...
and it will confusing for predict next trend
However, if eurusd will closed at about curent price_i think there is a change for go long on eurusd if only eurusd reach 1.2330 first on 01st may daily candle

Comment #4
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May 31, 2012 5:18pm May 31, 2012 5:18pm

Jayakatwang
| Commercial Member | Joined May 2012 | 92 Comments

Quoting fxtimes

Disliked

Thanks for sharing
EUR/USD now has cracked 1.2350 and is so close to that 2008 low at 1.2330. will it hold above that ahead of the NFP?

- Fan

Ignored

Finally, today 01 May,eurusd open at 1.2365 (=yesterday open price)__so it's signal to hold short position__because i think eurusd could reach 1.2230 today