» » Forex Trading: EURUSD On The 38.2 Of The Move Up From 2012 Low
Greg Michalowski

Forex Trading: EURUSD On The 38.2 Of The Move Up From 2012 Low

By Greg Michalowski on | More Posts By | Forex News By FXDD

The 38.2% of the move up from the 2012 low comes in at the 1.3054 level.  The EURUSDis testing this level a the moment. A move below will look toward the near double bottom for the month at the 1.3025 level (from Feb 1st – 1.3025 low – and Feb 6th-  at 1.3027 low). A look at the 5 minute chart below also has some support along bottom trendline.  It is not as important as the 38.2% on the daily but shorter term traders may be attracted to the level as a place to define risk and limit risk.

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