Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Friday, September 16, 2011

EUR-USD Technical Anlalysis

The EUR-USD pair retraced this week un to the 38,2% level of the whole move down started at 1.4550 at the end of august.

Sellers took a firm attitude at the 1.3900 area, bearing up practically yesterday’s fundamental news that lead to EURO’s surge. The EUR-USD is trading right now in the 1.3800 area and the investors are reconsidering their positions at the equilibrium levels of yesterday.

The up-thrust of yesterday broke the flag pattern at set today’s main resistance at 1.3900 level. The first support for today is at 1.3740 level and a brake of it, probably combined with a break of lower flag border, will provide signals of bearish resuming trend.

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