Euro USD: Euro USD Currency Futures: EC Technical Recap 3/9/10
Posted by: Richard Estrada // Category: Euro USD Futures
The Euro USD closed today down over 30 ticks from Monday’s close, which was much better then the almost 100 ticks it was down earlier in the day. The 60-minute chart of the Euro USD Futures (see chart below) shows that the bulls were able to recapture a lot of loss ground mid-morning, but you will notice that they (bulls) ran into stiff technical resistance between the 24-bar moving average (1.3599) and the 25-day moving average (1.3641).
This area (yellow eclipse) I will consider a pivotal technical area and run pass this area of technical resistance could in my technical opinion trigger short-term momentum. A failure to get above this area may continue to put the bulls on the defensive. Sign up for a NIGHT MARKET TECHNICAL UPDATE in the EURO USD CURRENCY FUTURES..
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