Thursday, February 11, 2010

EUR/USD Reach Target

The pair has reach the target mentioned in previous post and found support at 1.3582. The pair retrace back to 1.38 since the open of this week market. It has not been clear yet of the retracement pattern this time, but I think the down trend ain't over just yet. On daily chart above, we can see that 1.3800 area was a serious support level around June last year, and even at weekly chart we can see a clear break from 1.3800. First target is the 61.8% retracement of 1.2457 to 1.5144 at 1.3483. You can see other levels in the chart above.

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