Tuesday, July 12, 2011

Goldman Sachs technical analysis on $EURUSD

In terms of specific levels/pivots to watch on EURUSD:

-          200-dma at 1.3908. This has been an important pivot over recent years, a 5pm NY close below should therefore be an important signal if it’s achieved
-          1.3908-1.3968 where the 200-dma and interim low from 23rd May are converged should now be good intraday resistance
-          Primary uptrend from the June ’10 low at 1.3692
-          Converged primary uptrend and 55-wma on the weekly chart 1.3685-1.3675

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