Euro / Dollar Technical Forex Analysis for Forex TradersSubmitted by Harish Dhawan on Tue, 10/20/2009 - 09:27.
Forex Update
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Munther T Marji
The Euro broke the yesterday's resistance 1.4899, and reached the first target of this break 1.4966, and came close to 1.50 (the high until the moment of preparing this report is 1.4993). We will adopt this top as resistance of the day, if broken we will head with the Euro to the top of the rising channel on the hourly chart, which is currently at 1.5040, and may be we will reach the highest level since Aug 2008, at the resistance 1.5082. on the other hand, the support 1.4964 obviously held during the last few hours, that is why we will consider it the short-term most important support.