On 09.23.08 by Benny Nardino
Euro currency have managed to stave off every attempt to sell-off yesterday’s gains in today’s trading. At the moment it’s winning that fight so well, but for how long?
Euro Fights Selling
Today have been a day of range trading across board on allcurrency pairs and crosses. For euro dollar, EURUSD which normally trades within a daily range of 80 – 100 pips per day it seems at odd to be talking of a breakout or breakdown when these ranges have been achieved.
Hoverver, it has maintained the support of 1.4678 and resistance of 1.4825 on the daily range. Any further attempts on these levels would see a possible violation. In the mean time the market seem lopesided on going down. Trade cautiously with small numbers until certain. Have a great day.
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