Thursday, June 24, 2010

Forex Trading: EUR/USD And The 100hr MAVG

The 100 hr moving average has supported the EUR/USD pair since the 10th of June when it started appreciating after being battered through the 1.19 handle on sovereign debt concerns out of Europe.  However after hitting some resistance in the middle of the 1.24 handle the pair has been resisted this week by that same 100hr moving average that it is currently testing. The next move here could prove significant in the very short-term as the month and the first half of the year are rapidly coming to an end and equities continue to suffer and concerns from Europe remain a major concern.

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