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Showing posts with label EUR/USD strong support just ahead. Show all posts
Showing posts with label EUR/USD strong support just ahead. Show all posts

Wednesday, May 11, 2011

EUR/USD - Strong support ahead

As resistance at 144.41 held firm we are now seeing strong support at 141.55 challenged. The odds for this support to protect the downside is very high. The MACD-Indicator is showing positive divergence supporting a bottom soon.
A break above 142.76 would be first good indication that the double Zig-zag from 149.39 is over, while a break above 144.23 confirms the bottom.

A clear break below 141.55 will be of concern and would call for a continuation towards 140.25.