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Bullish Breakout? *RES 3:.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bullish Breakout?
*RES 3: 1.1063 61.8% retracement of the Dec 31 - Feb 20 low
*RES 2: 1.1008/14 High Feb 6 / Trendline resistance drawn off the Dec 31 high
*RES 1: 1.1006 High Feb 27
*PRICE: 1.0977 @ 16:58 GMT Feb 27
*SUP 1: 1.0878 Intraday low
*SUP 2: 1.0830 Low Feb 25
*SUP 3: 1.0805 Low Feb 24
The pair careened higher throughout the Thursday session, hitting a new recovery
high just above 1.10. EUR/USD is now nearing critical resistance at the 1.1008/9
level, which marks the intersection of trendline resistance drawn off the Dec 31
high and the 50% retracement of the sell-off between Dec 31 and Feb 20. A break
above here would reinforce the current rally. 1.0778, the Feb 20 is a key
support with initial support at 1.0878, today's intraday low. 1.0926, Feb 12
high has been cleared, the focus is on 1.0981 next, Nov 29 low.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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