EURUSD: EUR recovered from an intra day low of 1.5552 Wednesday to close the session at 1.5683.This is coming on the heels of a failure at 1.5895(Mar 31?08) level and a subsequent follow-through lower on Tuesday. While both the medium and longer term trends remain to the upside, a clean penetration and hold above the 1.5895/1.5904 levels, representing its 2008 peaks is required to resume that trend and prevent the present downside threat. In such a case, its psycho resistance at 1.6000 and the

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This entry was posted on Friday, April 4th, 2008 at 2:04 am and is filed under Forex Economic Indicators. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.