2010-06-04_European Forex Technicals : USD Gathering Strength
http://cdn.forexfactory.com/images/attach/pdf.gif 2010-06-04_European Forex Technicals.pdf (9.0 KB)
Intraday :
EUR/USD :
Thursday's weakness off 1.2327 left a bearish outside day, and the dominant threat is for renewed bear pressure on Tuesday's 2010 low at 1.2110. The series of lower highs continues to indicate where the major trend direction lies, and a break below 1.2110 would pave the way for further weakness towards the psychological 1.2000 level. Projected downside targets lie at 1.1983 and 1.1935. Resistance at 1.2240 is expected to limit upside scope, which is protected by 1.2217.
Weekly chart EUR/USD trend: Bearish.
http://cdn.forexfactory.com/images/icons/icon1.gif
http://cdn.forexfactory.com/images/attach/pdf.gif 2010-06-04_European Forex Technicals.pdf (9.0 KB)
Intraday :
EUR/USD :
Thursday's weakness off 1.2327 left a bearish outside day, and the dominant threat is for renewed bear pressure on Tuesday's 2010 low at 1.2110. The series of lower highs continues to indicate where the major trend direction lies, and a break below 1.2110 would pave the way for further weakness towards the psychological 1.2000 level. Projected downside targets lie at 1.1983 and 1.1935. Resistance at 1.2240 is expected to limit upside scope, which is protected by 1.2217.
Weekly chart EUR/USD trend: Bearish.
http://cdn.forexfactory.com/images/icons/icon1.gif
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2010-06-04_European Forex Technicals.pdf
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