Members login
EUR/USD Classical Technical Report 11.28
Written by article default Monday, 28 November 2011 07:34
EUR/USD: The market remains under some intense pressure and is now fixated on a retest of the key October lows at 1.3145. Look for any rallies to be well capped below 1.3500 on a daily close basis, while ultimately, only back above 1.3870 would negate outlook. Once 1.3145 is taken out, it will negate the corrective October price action and should result in a more aggressive bout of selling into the 1.2000’s. We continue to project weakness over the coming weeks into the lower 1.2000’s as per the monthly chart.
--- Written by Joel Kruger, Technical Currency Strategist
To contact Joel Kruger, email This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Follow me on Twitter @JoelKruger
To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to This e-mail address is being protected from spambots. You need JavaScript enabled to view it