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Forex Trading: EUR/USD Technical Analysis (from MNI)

Posted by Chris Advincula on Apr 4, 2013 2:21:00 AM

April 4 8:00 GMT

EUR/USD Technical Levels: Remains Below Key 200-Day Moving Average At $1.2892

Resistance 4: 1.3047 High Mar 25
Resistance 3: 1.2965/67/78 Low Mar 6, Low Mar 1, 23.6% of 1.3711 to 1.2751
Resistance 2: 1.2900/23 Resistance line from Feb 1, 21-day moving average
Resistance 1: 1.2892 200-DMA, High Mar 26


LATEST PRICE: $1.2785


Support 1: 1.2781 76.4% of $1.2771 to 1.2878
Support 2: 1.2751 Recovery low Mar 27, Low Apr 1
Support 3: 1.2684 Support line from 1 Mar
Support 4: 1.2662/80 Nov 13 reversal low, 61.8% of $1.2043-1.3711


COMMENTARY: Euro remains below the key 200-day moving average at $1.2892 and
also the 2-month channel top and the 21-day moving average, which is last valued
at $1.2900/23. Focus remains on 1-month support line at $1.2684. Initial support
is at $1.2781, which is the 76.4% of $1.2771 to $1.2878 and break below here
favours move to $1.2751.

 

Chart: WorldWideMarkets Flash Trader

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