Forex Trading: EUR/USD Ranging Off Technicals

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Forex Trading: EUR/USD Ranging Off Technicals

By Greg Michalowski on January 23, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

Looking at a short-term hourly EUR/USD retracement analysis below from 1/19 highs to 1/21 lows we see a lot of technicals in play described on the chart below. The moving averages have acted as resistance, as has the trendline. We will look for the 50% retracement to come into play as resistance if the pair breaks the aforementioned indicators or perhaps a continued push to the lows.

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