Eurusd update - 05 July 2011 Tuesday

Good morning everyone,

Yesterday eurusd traded only about 70 pips.

Right now, eurusd has a very uncertain direction, seems to be just swing and forming a channel at this top. However, I can see that eurusd has formed a head and shoulder formation with 1st resistance level at 1.4553 and 2nd resistance at 1.578.
Eurusd has also broke the support level at 1.4500 but support by the 2nd support level at 1.4460.

So just be patient and wait for a clear direction when eurusd break either extreme ends.

No comments:

Post a Comment