Thursday, November 5, 2009

EURUSD once again looking towards 1.5000 level

EURUSD after taking a dip to 1.4630 resumed upward move and has broken
an important level at 1.4855 and now it seems to be heading towards
1.5000 once again.

1.4855 level has now become a good support and we might see mostly
entries around that level for initial target around 1.5000 level,
break of which will set 1.5100 as next target.

The RSI is just above 55 and will support upward move towards and even
above that with any resistance.

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