Wednesday, March 28, 2012

Forex pairs to observe-3.27.2012

Eur.Usd and Usd.Chf

Eur.Usd managed to break through major resistance levels not too long ago and is currently retracing towards support levels around 1.3280. If support holds I anticipate this pair to continue further north, a counter trendline break + a bullish formation might justify an entry. Usd.Chf is retracing towards resistance levels around 0.9087 area and if this area of resistance holds expect a further move south. It is quite possible to see these pairs move before reaching their support and resistance levels.

Gbp.Usd

The bulls managed to score a point by taking out the previous high around 1.5991. At the moment this pair is retracing as well, support can be found around 1.5900 level. If support holds I anticipate a continuation towards the north. The bulls will be after the highs around 1.6115 area.

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