EURUSD on Friday Morning: points to watch

Good morning traders,

My previous piece of analysis remains intact, EURUSD showed yesterday bullish activity, but didn't reach the mentioned targets.

The very best variant for those who are long on this pair is practically immediate start higher from current levels (1.2760-1.2770) to 1.2815-25, where 4H 100MA, 1H and 15min resistance trendlines meet.

If we get lower, we should remember 1H 100 MAs at 1.2745 and 1.2728.

Tags: EURUSD

4 members like this

Comment by Rao Khassan on November 16, 2012 at 3:11pm: That's Friday -

so if the break is to lower side, I guess eurusd can reach even lower number of 2690-95. 25 works now as resistance

Comment by Peter jcp on November 16, 2012 at 3:22pm: I think now Rao - we have first main support at 2690 then minor R's on bounces at 2708-12 and 2725. Under 2690 then we a few supports (70 and 80) down to low at 2662 area

Comment by Rao Khassan on November 16, 2012 at 3:26pm: As for me, when we've broken clearly below hourly MA (and that happened), we might test the minimum, reaching 1.2640. But that's a broader view -

Comment by Peter jcp on November 16, 2012 at 3:33pm: Well so far no test of interim small resistances - so still weak and you may be correct under 70 and that 62 low - Good Luck Rao

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