WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

Euro | WorldWideMarkets

Posted by Joseph Trevisani on Feb 28, 2013 10:53:00 AM


Euro has fallen to its low of the day after repeated attemps to push higher, first at the 1.3160 level and then again at 1.3140. Stops below 1.3140 activated after the morning's upside failure and the subsequent return never reached the inception level.  A second more modest set of sell orders  below 1.3100 provided the  motive to the low of 1.3058. The rebound  has so far been limited to 1.3088.

The dollar has been supported by some better than expected  statistics including jobless claims, and the Chicago and Milwaukee ISM reports and traders have ignored the revision to fourth quarter GDP which at +0.1% from -0.1% was much weaker than the 0.5% forecast.

Moderate support at the 1.3060 level. Strong support at 1.3000 with stops below.

 

WorldWideMarkets

Charts: Bloomberg

 

eur 5 min resized 600

 

eur daily resized 600

 

Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

FAQ CenterLEARN MORE >>
Browse our frequently asked questions and find your answers right away.

VideosLEARN MORE >>
Access to the educational lessons, webinars and platform walkthroughs.

READY TO TRY THE MARKETS?

Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!