lundi 2 novembre 2009
EURUSD Daily 30-10-09
Posted on 12:41 by Kyuubi
EURUSD was in an up trend during this month until the 26-10 were a big reversal occured, confirmed by a down close the next day. This translate a change in supply/demand dynamics and price continued to move even lower, behind the support line at 1.4844.We saw an attempt on thursday to move up, but in volume less than the 2 day before ( no demand ), price was unable to close above the resistance at 1.4844 so this is the reason why I have a short bias for the pair and I think we should test the support at 1.4480 shortly.But we have to keep in mind that the overall trend is up on this chart so probably not a good idea in terms of risk reward to take a short. But for sure I will not take a long behind 1.4844 !
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