Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us

Grab your $30 from XM

Currency Currency
by ForexNewsNow Team on November 5th, 2010

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

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.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))