| EUR/USD to target 1.3125 before resuming down trend |
| date: 19/07/2010 by Timothy Straiton |
| Current level is 1.2962 and trading above the daily pivot point of 1.2942. This currency pair is gradually running into overbought territory with the 14 day RSI currently valued at 70 percent. The Fibonacci 61.8 percent retracement measured from the high of 1.5139 to the low of 1.1880 comes in at 1.3125. This level will probably cap the current upward correction and allow the down trend to continue its course. A break of the previous low at 1.1880 will then target 1.06. |
| For coverage of other markets click here! |
Webring - Forex