EurUsd: consolidation between 50% and 38.2% fib
After yesterday's straight forward rally the pair is consolidating in a 30 pip range between 1.2950 and 1.2920. The key to turn it short term bearish is around 1.2900 level. Breaking the 1.2950 targets/resistance are: 1.2960 / 1.2973 / 1.3000 zone / 1.3028 / 1.3080.
Around 1.2900 sitting the daily CP and a 38.2 fib retrace of yesterday's rally.
The arrows don't represents the targets.
Just a few moments from taking the above screen shoot the price started to rally again.
Regards
-
Comment by Peter jcp on October 12, 2012 at 7:41am -
Morning Pipomatic - Unfortunately missed the run up from London Open as was not around - but having just got back can see 2969-77 is a resistance area - as well as 2992-95 - which was also used as a LH on way down. If we staying with the LH's we should stay under 2990 for now - even though we all look upon 3074 as being the main one
Staying above 2945-50 area would be important for keeping up bias going - but with it being a Friday we should expect probably more play than other days ;-)
Have a good one ;-))
Regards
Peter
Comment
Photos
ChartAccess 20% OFF
© 2013 Created by FXstreet.
You need to be a member of FXstreet.com Forex Social Network to add comments!
Join FXstreet.com Forex Social Network