Euro USD: Euro Currency Futures Technical Recap 3/17/10
Posted by: Richard Estrada // Category: Euro USD Futures
The Euro USD broke below the 24-bar moving average mid-morning and then proceeded to the 5-day moving average (1.3730). Currency Traders who were day trading the Euro USD Currency Futures today, specifically those traders on the long side defended the 5-day moving average on the first pass, but the bears defended the 24-bar moving average on a retest (see chart below).
You can see that the Euro USD is back near the 5-day moving average (1.3630 at the close), which in my opinion will be a pivotal technical area in tonight’s trading session. If you would like to join me for a night market technical update in the Euro USD simply sign up for a Night Market Technical Update in the Euro USD Currency Futures.
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