Tuesday, February 22, 2011

Eur/Usd Feb 22nd

The Pair is currently trading around 1.3590, more or less 100 pips below yesterday morning at this time. I have never saw the eurusd moving 100 pips at midnight London time, interesting. The reason may be the fact that yesterday was a US holiday and so there was no enough liquidity to push the pair down, also if it was clear that with all the Libyan bad news it should have been down.
The other stories yesterday were the possibility for the euro-zone to increase the interest rate.
technically the pair is trading close to the low bollinger band, and is 50 pips away from last low.
if the Libyan situation will not end soon the pair should easily go to test 1.3400 support.
Here are some resistance and support:
R4 1.4059; R3 1.3913; R2 1.3767; R1 1.3679; S1 1.3533; S2 1.3475; S3 1.3329; S4 1.3183.

lafenice yesterday made money on his first trade, today I have no position on the moment, will follow close the day to spot some opportunity.

Happy trading everybody.

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