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2010-02-19

Forex Trading: EURUSD Back Above 1.3483 Level. 1.3531/38 Next Upside Resistance

gregmike-00500

The EURUSD moved below the target at the 1.3483 level which was the 61.8% of the move up from the 2009 low to the 2009 high.  The price is moving toward the 1.3531/38 level which was the lows from February 12 and yesterday prior to the move lower.  This will be the next resistance level for the pair this morning.  Above the level the pair has room to head up toward the 1.3575-85 where the 38.2% of the move down and the floor lows going back to February 5th.

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