| Current level on 15th November 2011 is 1.2411.
On the 27th of March 2010, support was broken at 1.4317 and triggered
a downside spiral which culminated at 1.0258 on August 13th 2011. This level
corresponds to the 161.8% Fibonacci downside projection measured from the
October 2007 high of 1.6829 to the November 2008 low of 1.4317.
Since this all time low, the Euro has managed to break above the 40 week
moving average currently at 1.2251 and has also broken falling trendline
resistance at 1.2356, measured from the 1.4592 high made on 22nd May 2010.
Upside targets are now seen at 1.2768, 1.3544 and 1.4319, which represent
the Fibonacci 61.8%, 50% and 23.6 % retracement levels measured from the 1.6829 high made on 6th October 2007 to the 1.0258 low made on 13th August 2011. |
Webring - Forex