Downside target not obvious until 1.3410/20

By Jamie Coleman || February 5, 2010 at 16:56 GMT

|| 12 comments || Add comment

I assume there are very large barrier options at the 1.3500 level which could slow any EUR slide but looking at the charts, there is little obvious support until the 1.3410/20 level. 1.3422 is a bottom on the dailies dating back to May of last year. 1.3411 is the 61.8% retracement of the 1.2342/1.5142 rally.

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Category: All, Americas, Mkt Talk, Regions, Techs
Tags: EUR/USD

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12 Responses to “Downside target not obvious until 1.3410/20”

Iman on February 5th, 2010 17:12 GMT

The daily candle in EUR/CHF is just turning to a huge doji…
Adje on February 5th, 2010 17:13 GMT

Amazing that GU held above 1.5600
Guy on February 5th, 2010 17:14 GMT

Jamie not sure I get this – I have 1.2456 low on the 4th March? 61.8% gives me 1.3483
Jamie Coleman on February 5th, 2010 17:19 GMT

I’m going all the way back to the Oct 08 lows…sorry, took wrong date…will fix…
lilac on February 5th, 2010 17:19 GMT

And now for some good news

http://news.bbc.co.uk/1/hi/world/asia-pacific/8500037.stm
Guy on February 5th, 2010 17:20 GMT

Roger that, thought I was going loopy for a mo (not the first time either!!) Taa!
Emilio on February 5th, 2010 17:23 GMT

I couldnt resist and have booked some profits on cable just now at 1.5625. Seems like a good place for a temporary bounce.
jahed on February 5th, 2010 17:30 GMT

Any ideas on where gbp/usd will bounce or will go to the 1.6800 before turning down
thanks
miloud on February 5th, 2010 17:41 GMT

Jahed, you mean 1.5800, right???!!!!!!1
jahed on February 5th, 2010 17:43 GMT

Yes sorry miloud 1.5800
jahed on February 5th, 2010 17:50 GMT

so what do you think miloud on gbp/usd?
Michael Miller on February 5th, 2010 17:55 GMT

Oh, no. The SBA, soon to be the new, Fannie Mae.