29 November 2010

After weekend situation

Eurusd has slightly breached its up trend line on daily chart, however euro index is currently trading at support level 106.70 - 106.10, with another support level little lower at 104.00. This could stop Eurusd from falling lower, before making a decent correction first.




Dollar index has also slightly breach its first supply level at 80.00, but its coming back. Remember that there is another supply (resistance) level just above it at 81.00 - 81.50. You can see both of these levels at daily and h4 timeframes.




We can get a clue also by looking at Usdchf pair, currently at a little supply level. It has tried before to visit this level but supply was so strong that i didnt quite make it and dropped in strong fashion just below 1.00. After reaching demand level at 0.9550 it started pulling back slowly, currently trading at 1.00 level again.



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