Friday, September 21, 2012

EUR/USD Challenges 1.2953 - September 21, 2012


EUR/USD Challenges 1.2953 - September 21, 2012

Support at 1.2953 has held the initial test, but will be unable to contain the pair should the attempt to breach it be repeated. In this instance EUR/USD may pull back down to 1.2827/04 (200 day SMA), but will nevertheless remain bullish, as an accelerated uptrend support has not yet been breached and is likely direct the price up to 1.3525, rally beyond which is not expected. Read more