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Technical Analysis: EUR/USD

Posted by Chris Advincula on Apr 19, 2013 3:44:00 AM

April 19 Friday 7:45 GMT

URO-DOLLAR Technicals: Mixed Studies As Euro-Dollar Consolidates


RES 4: 1.3200/02 Apr 17 high, Apr 16 high & Daily Bollinger top
RES 3: 1.3150/57 Former 38.2% 1.4940-1.2043, 100-DMA
RES 2: 1.3098/3115 55-DMA, 38.2% of 1.3711-1.2743
RES 1: 1.3096 High Apr 18


LATEST PRICE: 1.3073


SUP 1: 1.3021/22 Low Apr 18, Low Apr 15
SUP 2: 1.3002 Low Apr 17
SUP 3: 1.2965/67/74 Low Mar 6, Low Mar 1 & 21-DMA, 23.6% of 1.3711 to 1.2746
SUP 4: 1.2930 200-DMA


COMMENTARY: Euro-dollar recovered some losses despite the bearish daily studies,
as 10-day momentum shows negative divergence and slow stochastic crosses for a
sell-signal. Key suppuort seen at 1.2930, the Apr 17 low. However, weekly studies
turned bullish, initial resistance at 1.3096, yesterday's high. Bulls look to break
above the 55-DMA at 1.3098, just below the 38.2% of 1.3711-1.2743, but bears
will be eyeing a break below the 21-DMA at $1.2967 to follow dly studies lower.

Market News International & WorldWideMarkets

 

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Chart: WorldWideMarkets Flash Trader

 

 

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