Friday, March 12, 2010

Euro plods in range



Euro plods in range

(London) - Euro has slipped into a sleepy sideways channel as players wind-down for the weekend. EUR/USD is plodding along in a tight 10 pip band between 1.3760 and 1.3749. The pair quotes at 1.3756 still over 250 pips over from recent lows struck beneath 1.35.

Weekend profit taking may limit gains for Euro heading to the close and earlier session highs of 1.3795 must be taken as primary resistance for the current bull run. Valeria Bednarik, technical analyst at FXstreet.com,see the pair overbought according to the charts: "...charts also look slightly overbought suggesting pair needs some downside corrective movement before a new leg up. ".

EUR/USD (Mar 12 at 20:19 GMT)

1.3755/58 (0.56%)

H 1.38 L 1.3667

S3S2S1R1R2R3
1.36881.37221.37561.37641.37991.3833
[?]Trend Index[?]OB/OS Index
NeutralNeutral
Data updated on Mar 12 at 19:58 (15-minute timeframe)

[ View EUR/USD Technical Studies ]This article taken by FxStreet.com

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