by Mon, 12 Apr 2010 09:20:00 +0200
Forex: EUR/USD rally might extend to 1.3820 - Commerzbank
FXstreet.com (Barcelona) - The Euro has shrugged off previous day's weakness with a strong rally on Friday which extended on Monday to levels right below 1.3700, and could reach 1.3820 and 1.3985 levels, according to Karen Jones, technical analyst at Commerzbank.
The current uptrend could extend to March highs at 1.3815, and 1.3985 Fibonacci level, says Jones: "We look for the rally to extend to the 1.3820 recent peak then the 1.3985 level – 38.2% retracement of the sell off from November."
On the downside, the current uptrend pair might have confirmed a base at 1.3265 area, says Jones: "With such an aggressive move higher the market is considered to have based at the 1.3265 support exposed (the recent low, the June 2007 low and the 2/3 rd retracement of the 2009 rally)."
| Technical Analysis (2010-04-12 07:08 GMT) | |
|---|---|
EUR/USD 1.3632/1.3634 - O: 1.3633 H: 1.3644 L: 1.363 C: 1.3633 | |
| Trend | R3: 1.3706 |
 | R2: 1.3672 |
| R1: 1.3638 | |
| S1: 1.3554 | |
| S2: 1.3588 | |
| S3: 1.3622 | |
Actualité du forex
Forex News
- Forex Trade 16 Feb, Employment Change, Unemployment Rate, Ecb Publishes Feb. Monthly Report
- Oil Maintains Bullish Trend amid Middle East Tensions
- Risk Aversion Turns EUR Bearish
- USD Moves Up Following Fresh Euro-Zone Worries
- JPY Moves Up on EUR Following Greek News
- Report du versement des aides à la Grèce, les marchés se contractent
- Le pétrole conserve une tendance haussière au milieu des tensions du Moyen-Orient
- L'aversion au risque peut avérer un Euro Baissier
- USD progresse face aux inquiétudes fraiches de l'Euro-Zone.
- JPY progresse face à l'Euro suivant les nouvelles grecques