Forex Trading: EUR/USD Still Trading Down The Channel

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Forex Trading: EUR/USD Still Trading Down The Channel

By Greg Michalowski on January 26, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The EUR/USD pair has remained in the downward channel shown for over a month, reacting strongly to the support and resistance trendlines (highlighted below.) In addition. the 4-100 hr moving average has provided the resistance on the downward move for the pair since the beginning the year. The fundamentals and technicals continue to have a negative affect on the pair, we will look for a break of the lows before any new range is established. Stay tuned!

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