DowntownForex » Support Levels http://www.downtownforex.com Your Forex Resource Site Fri, 22 Jul 2011 14:37:59 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 EUR/USD at Support Levels http://www.downtownforex.com/2009/06/11/eurusd-at-support-levels/?utm_source=rss&utm_medium=rss&utm_campaign=eurusd-at-support-levels http://www.downtownforex.com/2009/06/11/eurusd-at-support-levels/#comments Fri, 12 Jun 2009 02:31:54 +0000 admin http://www.downtownforex.com/?p=156

By Back Bay FX – EUR/USD has just broken through the bottom it’s recent support line (noted in BLUE on the below image). The start of that eurusdsupport is the same level (1.3780 – 1.3800) as we say as a launching pad for EUR/USD back in late May (see BLUE circle on below image.) We suspect that the pair will re-test those levels by Tuesday of next week.

Importantly, if the 1.3780 level is breached and holds below that for day or so, we suspect that we will see a slow move down towards the 1.3600 level which is the midpoint of a previous range seen in mid-May.

Stay Nimble!

Stephen Leahy
Back Bay FX Services, LLC
www.backbayfx.com

Thanks to FX Solutions and Accucharts for the below image.

]]> http://www.downtownforex.com/2009/06/11/eurusd-at-support-levels/feed/ 0