Hi, here is a technical analysis of the EURUSD for today aug. 19, 2010
In the Asian session the pair broke down under yesterday’s range from to the vicinity of .28. The current range is between 1.2787 to 1.2930. The major support is around 1.2787.
If the pair go below 1.2787 the next support is at 1.2722, 1.2611 and 1.2460. If the pair continue going up, above 1.2787 the resistance is at 1.30, 1.3114 and 1.3267. The key level for today is 1.2787, if the pair loss at this level it will fall.
Now it seems is gaining ground.
It seems the Euro will win today.
María
Fx-Megaforex
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Our preference: Long positions above 1.344 with targets at 1.3625 & 1.3695 in extension. Below 1.344 look for further downside with 1.3375 & 1.33 as targets. The pair has rebounded on its bullish channel upper boundary and remains on the upside. It has also broke above the key resistance level of 1.35 that coincides with the 50% fib. retracement.