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FXstreet.com (Crdoba) - EUR/USD is now relatively steady after jumping 150 pips and pulling back 80. The pair holds below 1.380 and is consolidating important gains despite moving away from the highs.
EUR/USD trades at 1.3780/85, 0.98% above today's opening price. The pair is headed toward the biggest daily gains in four weeks.
"The euro-dollar pair is gaining on the daily and four hour scale where it breached the resistance levels at $1.3736, the pair is in attempt to breach the upcoming resistance levels at $1.3808 to reach its targets at $1.3921, on the four hour chart the pair is trading among the support levels of $1.3733 and the resistance levels at $1.3832 but the pair holds a strong tendency to decline in a correctional move as its trading within an overbought area on various Oscillators," the ecPulse.com Analysis Team says.
Forex: EUR/USD holds below 1.3800
Posted 2/9/2010 1:57 PM ET by from FXstreet.com
EUR/USD trades at 1.3780/85, 0.98% above today's opening price. The pair is headed toward the biggest daily gains in four weeks.
"The euro-dollar pair is gaining on the daily and four hour scale where it breached the resistance levels at $1.3736, the pair is in attempt to breach the upcoming resistance levels at $1.3808 to reach its targets at $1.3921, on the four hour chart the pair is trading among the support levels of $1.3733 and the resistance levels at $1.3832 but the pair holds a strong tendency to decline in a correctional move as its trading within an overbought area on various Oscillators," the ecPulse.com Analysis Team says.
