EURUSD—approaching resistance

Euro is approaching resistance near 1.3750, composed of price (Feb. 9th high of 1.3744), confluence, a downward trend line, and a speed line. It's possible it will fail here. If so, look for support at 1.3650, 1.3526 and 1.3429. Above 1.3750 opens the possibility of 1.3862. Only above here can a strong bullish case be made. Watch momentum on the shorter time frame charts.

© Dianne Fecteau, 2011. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

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