Monday, January 24, 2011

EUR/USD Technical Analysis | 24 January 2011

EUR/USD Technical Analysis | 24 January 2011

We have had another retracement this morning which looks like it still has lower to go. A possible target for the drop could be trend-line support at 1.3525. After that it is likely the uptrend will resume perhaps reaching the substantial resistance levels in the 1.37s.

There is also a small possibility that this fall is part of a larger reversal which could break lower and target support and resistance in the 1.3440s.

by Joaquin Monfort, Analytical expert , Forex4You © 2011

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