Forex Trading Levels EUR USD April 04, 2012

Update 1 (): We are currently testing the support level mentioned yesterday 1.3180. During the past few instance, the market reversed off this point and touched 1.3430. Let us wait and watch whether the same magic happens this time too..

Level Technical Significance
1.3414 21-Day Upper Bollinger
1.3385 Daily High Mar 27
1.3368 Daily High Apr 3
1.33 Hrly Lo Apr 3 Now Resist
1.3194 02:00 GMT WED 04 APR
1.3193 Daily Low Mar 26
1.3161 100-Day MA
1.3134 Daily Low Mar 22
1.3049 Daily Low Mar 16

Update 2 (): The price literally sliced through 1.3180. As of now the bears are in control. But this pair has this habit of reversing violently off the low prices towards the end of the European session. If you missed the ride down, you can use that opportunity to short at higher levels. Extreme risk takers can try to catch the bottom and hope to cash in on the reversal trade.

Level Technical Significance
1.33 Hrly Lo Apr 3 Now Resist
1.328 10-Day MA
1.324 Hourly High Apr 4
1.3215 21-Day MA
1.3124 14:40 GMT WED 04 APR
1.3049 Daily Low Mar 16
1.3031 21-Day Lower Bollinger
1.3004 Daily Low Mar 15
1.2974 Daily Low Feb 16


Technical Significance levels provided by Thomson Financial LLC


About Praveen Pious Francis
A part-time blogger who has a wide range of interests including investing in the stock markets across the globe and broadband technologies in India.

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