EUR/USD forex technical analysis round-up: Nov. 5

ForexNewsNow | Published on November 5, 2010 at 6:06 am

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EUR USD analysis - a pile of eurosNEW YORK (Forex News Now) – On Friday, the euro stayed afloat above the 1.4100 area against the U.S. dollar despite falling from its 9-month high of 1.4280 yesterday.

As of around 10:05 A.M. GMT, the euro was trading at 1.4158, down 0.42% from its open on the day of 1.4218.

The realtime forex news outlet FXstreet reported that the EUR/USD “might find support at, 1.4100 (Nov 4 low), and below here, 1.4060 (previous highs)” with resistance levels at “1.4245 (session high), and above here, 1.4280 (Nov 4 high) and 1.4375 (daily pivot point R2).”

Forexpros, for its part, predicted that EURUSD “was likely to find support at 1.3864, Monday’s low, and resistance at 1.4282, Thursday’s high.”

Forex analysis on Forexcycle noted that “EURUSD’s upward move extended further to as high as 1.4281 level” and added that “support is now at 1.4095, as long as this level holds, uptrend is expected to continue and next target would be at 1.4400-1.4500.”area.



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