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EUR/USD - Euro Dollar, European Session - 12/02/08

12 Feb, 2008 @ 01:11 am ET | written by Mataf


1,4531. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. EUR USD is in a range between 1,4445 and 1,4580. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a support above 1,4440. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,4580 - 1,4650
Supports
1,4500 - 1,4440

For more forex information, go to www.mataf.net

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