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Resistance line now eyed in EUR/USD

By   || March 10, 2010 at 20:29 GMT
|| 2 comments || Add comment

The midday sprint to 1.3679 at midday helped validate a resistance line drawn off the 1.3736 highs posted in the middle of last week. While resistance is scattered all the way up from 1.3680 through 1.3636, the break of that resistance line will give bulls one more bit of confidence as we try and breakout of the established range that has contained the price action for nearly a month.

Keep one eye on the daily charts where the 10 and 21 day moving averages are on the verge of crossing in bullish fashion (the shorter moving average moving above the longer average). Trend-following systems tend to act on events like that. EUR strength into today’s close could do the trick.

3-10 EUR

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Category: All, Americas, Mkt Talk, Politics/Policy, Regions
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2 Responses to “Resistance line now eyed in EUR/USD”

  1. Rance San on March 10th, 2010 21:25 GMT

    Hi Jamie, thanks for the great commentary and insight, etc. I sure hope that the EURUSD can finally break out of the sideways chop today and once again push up for the 1.37 handle.

  2. simao4 on March 10th, 2010 21:54 GMT

    hello Jamie, This PA make so nervous EUR dont need to have a clear direction he still in range 2week ago

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