EURO (EUR), Daily Review, Feb 10 2010

By @ibtimes on

The Euro gained versus the Dollar after signals from EU officials about supporting Greece. EU nations were pressured by world markets to rescue Greece from its deficit in order to prevent it from dragging down the Euro and stock markets. Overall, EUR/USD traded with a low of 1.3649 and a high of 1.3839. EUR/USD has started correcting upwards after being oversold according to the RSI indicator. Continuance of the correction back up to 38.2% Fibonacci retracement at 1.3965 is possible. Today, French Industrial Production is expected with 0.6% versus 1.1% prior.

EUR/USD - Last: 1.3790

Resistance

1.3855

1.3910

1.3945

Support

1.3740

1.3695

1.3670

width=450

Join the Discussion