Forex Market Updates & Commentary |  |
- The Weekend Technical Forex Report is available for viewing
- New highs being made in EURUSD and GBPUSD
- Forex Midday Report- Jan 21
- EURUSD retraces back down after move above 1.3577
- EURJPY test 200 day MA. Price has not been above since January 2010
- EURUSD tests the 50% retracement target
| The Weekend Technical Forex Report is available for viewing Posted: 21 Jan 2011 01:14 PM PST |
| New highs being made in EURUSD and GBPUSD Posted: 21 Jan 2011 12:10 PM PST |
| Posted: 21 Jan 2011 09:28 AM PST Forex Midday Report- Jan 21 |
| EURUSD retraces back down after move above 1.3577 Posted: 21 Jan 2011 08:31 AM PST |
| EURJPY test 200 day MA. Price has not been above since January 2010 Posted: 21 Jan 2011 08:08 AM PST
The EURJPY has been below the 200 day MA since January 14, 2010. At that time the 200 day MA was way up at 133.00. Today, the pair is testing the key MA at the 112.36 level. A break of the level should be a significant milestone and should lead to further upside momentum from a technical perspective. The high corresponds with the technical resistance in the EURUSD at the 50% retracement at 1.3577. |
| EURUSD tests the 50% retracement target Posted: 21 Jan 2011 07:52 AM PST
The EURUSD is making new highs and testing the 50% retracement target of the move down from the NOvember 2010 high to the low reached in January at the 1.3577 level. The price has moved slightly above the level at 1.3585 as shorts get squeezed before the London/Europe close. If the price can stay above the 1.3563 level the market should keep the bullish bias.
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