EURUSD - Daily technical outlook

By IBTimes Staff Reporter | January 21 2010 3:19 AM

Sponsorship Link

EUR/USD closed sharply lower on Wednesday and tested the 38% retracement level of the 2008-2009-rally crossing. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, the 50% retracement level of the 2008-2009-rally crossing is the next downside target. Closes above the 10-day moving average crossing are needed to confirm that a short-term low has been posted.

Eurozone Leaders Try to Tackle Tax Evasion

Eurozone Leaders Try to Tackle Tax Evasion

Radical AfD Political Party Could Disrupt German Elections

Radical AfD Political Party Could Disrupt German Elections

British Pound traded at 7-week lows aganst US-Dollar as U.K. retail sales slump

British Pound traded at 7-week lows aganst US-Dollar as U.K. retail sales slump

Yen down after Japan's worst April trade deficit

Yen down after Japan's worst April trade deficit

In Depth

Xbox One vs. PS4: A Full Specs Comparison

Xbox One vs. PS4: Comparing The Specs

New Government Report Calls Rana Plaza Garment Factory Collapse 'Culpable Homicide'

Bangladesh Gov't Calls Building Collapse 'Culpable Homicide'

Iraq: The Fundamentalists’ War Against Vice Targets Alcohol And Prostitution

In Iraq, The Fundamentalists’ War Against Vice Targets Alcohol And Prostitution

GMO Labeling Laws Move To Forefront In Battle Over Food Policy

GMO Labeling Laws Take Center Stage

web counter