Eurusd Daily
The pair continues the uptrend towards the local 1.3170 high. A clear break above this level would open a fresh upside extension towards the 1.3300-1.3500 resistance area. Otherwise, we would see a decline towards the 1.2875-1.2925 support area, which contains the 50-Day SMA, or the key 1.2780 support, right where the 200-Day SMA reside. A daily close below 1.2780 would confirm the medium-term declines ahead of the 1.2465 support, right where the 61.8% FIBO retracement level of the 1.2042-1.3172 upside rally resides. However, a bullish reversal could take place by 1.2780 or the 1.2875-1.2925 support area. In both cases we would see a new attempt to break the local 1.3170 high and reach the 1.3300-1.3500 resistance area.
On-going worries in the Eurozone Continue Finland’s Finance ministers have
said that the Eurozone has to do more to bailout out indebted states.
Eurusd 4hrs
Euro Zone is still not out of deep
waters as according to Eurozone leader further
structural reforms are required for recovery
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