Friday, February 25, 2011

Forex news EUR/USD:Exchange rate came close to a local max 1.3850/60

Exchange rate still is above the moving averages with periods of 34, 144, 55 and 89, which are directed upward and points to the continued bullish sentiment, as well as the next support levels are 1.3690, 1.3650 and 1.3625/20.
MACD histogram is located in the positive zone and above its signal line, continues to gradually rise, and thus sends a signal to buy EUR / USD.\
Stochastic Oscillator is in the overbought zone and generates a similar signal as the% K line rises above the% D.
Therefore, as a confirmation of what the forex market in a given currency pair again could intensify bullish sentiment, we can only wait for the breakdown of the local max 1.3850/60, which will open the path to levels of 1.3900/10 and 1.3940/60.
Resistance levels: 1.3850/60, 1.3900/10, 1.3940, 1.3960, 1.4000/10
Current Price: 1.3826
Support levels: 1.3810/00, 1.3770, 1.3750/40, 1.3710/00, 1.3680/60

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