Monday, November 19, 2012

EUR/USD holds above the 200-day SMA at 1.2725

EUR/USD holds above the 200-day SMA at 1.2725

EUR/USD pair during Friday trading session moved down and in a daily graph tested the SMA for 200 bars at 1.2725 and in a H4 graph reached the lower line of Bollinger Bands. Currently, the price has slightly increased and is traded at 1.2758. 

If upward trend scenario takes the scene, 1.2800 level will be important with the monthly S1 level and the 200-day SMA. And if the price turns to south, 1.2725 level will be the first support, as the 200-day SMA and the 100-day SMA converge, and 1.2630 level will be the second, as the monthly S2 and the lower line of Bollinger bands intercept. Read more