Friday, 10 June 2011

EURUSD analysis: Bearish trend resumed

Yesterday I said that the EUR/USD current temporary up trend is only a corrective move or a revisit to the broken trend line. In did, today after a brief touch of the trend line the bearish trend resumed and we have new extension.  The forecast for the next week is relative strength of USD. The key levels that will provide a strong support are the 50% and 100% The support and resistance levels which have been calculated with Fibonacci retracement levels are as follow:

1.3968- 100%
1.4246 - 61.8%
1.4331 - 50%
1.4331 - 38.2%
1.4523 - 23.6%
1.4695 – 0%


If you have any questions please do not hesitate to contact me and  remember to subscribe for more forex news.


Tomasz Gdynia

16 comments:

  1. You are pretty good at predicting these trends!

    ReplyDelete
  2. So the lower the better... hmmm i don't understand, could you explain it more?

    ReplyDelete
  3. Let's hope that the Euro does not lose very much value:C

    ReplyDelete
  4. I still don't see the bear in the picture. Aha, I had to put that bad joke in there.

    ReplyDelete
  5. Difficult to follow. Could you perhaps elaborate more?

    ReplyDelete
  6. I'd like for the dollar to gain some more value please!

    ReplyDelete
  7. This went right over my head. xD

    ReplyDelete
  8. This economy is like Jellystone park, no bull in sight.

    ReplyDelete
  9. I love forex trading. Might have to keep an eye on your buy/sell reccomendations.

    ReplyDelete
  10. cmon keep losing value, so the AU dollar goes up

    ReplyDelete
  11. when we got euros.. we were ass raped

    ReplyDelete
  12. I can never understand this stuff lol.

    ReplyDelete