Forex Notes

Euro / dollar: The daily stochastic is in oversold territory


Resistance to 4: $ 1.4171 peak channel on December 3
Resistance 3: $ 1.4043/46 minima 21 января, August 17
Resistance 2: $ 1.4010/26 21-day moving average, a maximum of 3 February
Resistance 1: $ 1.3838/53 maximum of 9 February, at least Feb. 1

Current level: $ 1.3785

Support 1: $ 1.3585 at least Feb. 5
Support 2: $ 1.3524/45 2% MAE, the current base Bollinger bands
Support 3: $ 1.3485/00 61.8% of the rally in March / December
Support 4: $ 1.3404/20 61.8% of the rally end of October 2008

Comments: euro still traded below the 200-day moving average of $ 1.3875, and if the couple would continue to remain within 2% MAE and the foundation day Bollinger bands, the bears will be only too glad. Bulls, in turn, will direct its attention to the recurrent chart daily stochastics, and while the level of $ 1.3585 is a minimum, the next Fibonacci retracement levels are at $ 1.3858 and $ 1.3954/66. Initial support is provided in the form of 5-day moving average at $ 1.3720.