Sunday, May 3, 2009
Daily Outlook for EURUSD
Attached is the 1H chart of EURUSD. As predicted in my weekly outlook yesterday, EU has started the week very strongly. Right now, it is pushing against a good resistance at 1.3336. This should prove as a bit of a good resistance but considering the underlying strength in EU, it should push through.
On the upside, it should face some strong resistance at 1.3370 which should prove a bigger resistance as previous highs are located there. If it does manage to puush through, then we should see a easy ride to 1.3430 and then to 1.3550 and finally the target at 1.37. These should take a few days though.
On the downside, the supports would be at 1.3306, 1.3275 and then finally a very strong support at 1.3184. But my guess is that today should be an upday for both EU and GU.
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