24/01/2008
EURUSD
EurUsd is trading at the same level it was when we wrote our previous daily commentary, the pair moved lower in yesterday's afternoon trading hours but then retraced back up above 1.4600 after finding support at the 1.4500 level. The markets are still undecided after the events we've witnessed this week and apparently many are still expecting the FED to cut interest rates again, and until that situation gets some clarification trading will be difficult, the battle between bulls and bears will keep the pair trading close to the current levels.
Resistance Levels
EURUSD
EurUsd is trading at the same level it was when we wrote our previous daily commentary, the pair moved lower in yesterday's afternoon trading hours but then retraced back up above 1.4600 after finding support at the 1.4500 level. The markets are still undecided after the events we've witnessed this week and apparently many are still expecting the FED to cut interest rates again, and until that situation gets some clarification trading will be difficult, the battle between bulls and bears will keep the pair trading close to the current levels.
Resistance Levels
- 1.5000-- round number
- 1.4966- Nov 23rd high
- 1.4735 -Nov 9th High
Support Levels
- 1.4500- round number
- 1.4300 - Sept 30th High
- 1.4000 - Round number
- 1.3850 - July 24th High