Daily Technical Strategist: EURUSD
Apr. 08, 2011 9:39 AM ET
Mohammed Isah's Blog
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Seeking Alpha Analyst Since 2009
Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market for the past seven years. He formerly traded stocks before crossing over to the forex market, where he worked for FXInstructor LLC as a technical analyst and head of research before joining FXTechstrategy.com. He has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal Magazine, The International Business Times,Thestreet.com and FXstreet.com. At FXTechstrategy.com, he writes daily, weekly and long-term technical commentaries on currencies and commodities, which are offered to its clients. He provides full coverage of the forex market with specific focus on G10 currencies as well as the commodities markets, with focus on five key commodities.
EURUSD: Resumes Long Term Uptrend, Eyes Further Upside Gains.
EURUSD: EUR has resumed its long term uptrend after rallying back above the 1.4266/79 levels, its key resistance level in early morning trading today. A firm hold above that level on a weekly closing basis will build a base for further strength towards the 1.4576 level, its Jan 2010 high. Above this level will pave the way for more gains towards the 1.4902 level. Alternatively, on further pullbacks, its broken resistance at the 1.4266/79 levels should reverse roles and provide support if tested. Other supports are located at the 1.4103 level followed by the 1.3852 level, its Mar 15’2011 low.
EURUSD: EUR has resumed its long term uptrend after rallying back above the 1.4266/79 levels, its key resistance level in early morning trading today. A firm hold above that level on a weekly closing basis will build a base for further strength towards the 1.4576 level, its Jan 2010 high. Above this level will pave the way for more gains towards the 1.4902 level. Alternatively, on further pullbacks, its broken resistance at the 1.4266/79 levels should reverse roles and provide support if tested. Other supports are located at the 1.4103 level followed by the 1.3852 level, its Mar 15’2011 low.
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