Monday, April 6, 2009

Eur-Usd Charts

eur-usd 240 mins 5.4.09

Correction to the whole upmove from the lows in early march found support near the 50% retracement level & also took support multiple times on a rising trendline from early march. The rebound from the .5 fib level faced resistance at the lower channel line, falling back from which it again took support from the trendline & this time rallied to break back into the channel. Looks like we are all set to challenge the channel top again, and a successful break should take things much higher from here.