Forex Trading: EUR/USD Approaching Key 50% Retracement Level

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Forex Trading: EUR/USD Approaching Key 50% Retracement Level

By Greg Michalowski on May 29, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The EUR/USD is quickly approaching a very key level, which could provide some resistance for the pair as the EUR/USD is very bid thanks to a weak USD across the board.

Looking at the pair’s all-time high of 1.6030 and the recent 3 year low of 1.2329, the EUR/USD is now eyeing the 50% Fibonacci Retracement Level which lies around 1.4180.

eurusd6

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1 Comment :

Comment by Kiwi

2009-05-29 07:13:58

AUDUSD has also done a sprint above 50% retracement.
When will the bubble burst?

Reply to this comment

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