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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Wednesday, October 12, 2011

EUR-USD Technical Anlalysis 2011.10.12

The Euro has rallied along with the stocks for the past week, breaking up the falling wedge pattern and aiming for the 1.3850-1.4000 resistance zone.

The retracement levels are measured for the month of September decline and, the previous main resistance was established by the 38.2% retracement.

The up-coming main resistance zone is set by the 50-61.8% area where the price may encounter strong bearish resistance.

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