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EURUSD Technical Analysis – FX Price Action- WC 11th February 2013

EURUSD Technical Analysis – FX Price Action- WC 11th February 2013

EURUSD Technical Analysis – WC 11th February 2013 – FX Price Action Update

  • The EURUSD pair has seen a steep decline, on significant and sustained pressure, from 1.3647 to 1.3351 on the weekly basis.  This 296 pip weekly range was 130% of the average over 26 weeks and culminated in a drop of  2.11% for the euro/dollar.  The pair is now trading down 1.57% for February.
  • When referencing the hour 4 chart (fig 2) we note that price has edged down to an area coinciding with the 50% retrace, FE100 and H4 200 SMA.
  • Any corrective move to the upside has the following levels as a focus:  
    • The 1.3400 area has previously seen resistance and is an initial technical point of interest.  
    • 1.3428 is a minor price pivot and marks the high from Thursday as well as a previous h1 support level.
    • 1.3457 is the daily low from Tuesday.
    • The 1.3500 handle, psychological round number area.
  • Any continuation of the move lower would need to contend with the following areas:
    • The aforementioned confluence  zone of 50% retrace, FE100 and H4 200 SMA around 1.3326 – 1.3350.
    • The clearly defined price pivot area around 1.3285.
    • Any sustained downside would have us monitoring the 1.3150 area support/resistance flip.

eurusd EURUSD Technical Analysis   FX Price Action  WC 11th February 2013

EURUSD – D1 – Fig 1

eurusd technical analysis 11 2 13 EURUSD Technical Analysis   FX Price Action  WC 11th February 2013

 EURUSD – H4 – Fig 2

eurusd technical analysis 11th february EURUSD Technical Analysis   FX Price Action  WC 11th February 2013

 EURUSD Outlook, Forecast, Technical Analysis, Forex Price Action, 11/2/13

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