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Sunday, November 01, 2009

Recap: EURUSD Oct 26 - 30

  • I mentioned that the 1.5060 and 1.5092 levels were to be watched and that 1.5092 seem unlikely for the week.
  • 1.4945 was also important for the bears to come in and we would expect a low of 1.4701 for the week.
  • We did see 1.4701 and in fact, reached 1.4682 as the low of the week before it climbed up to 1.4720 to close off.
  • So the next question is, are we still in a bullish trend which saw the reversal we were finally waiting for or, is this the trend for the next week or two?

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