Friday, January 15, 2010

Forex-EURUSD 15-1-10


With news as stated below, no wonder the price turned downward. This is supported by the fact that the stoc is in overbought territory in its daily chart. However, price is resting on Fib 61% and stoc is turning upwards. There might be a chance that it will rebound from that point, or break through the Fib's critical point. If breaks, we will see it falling towards or near its 100% mark. So if thinking of shorting it, it may do well to wait for it to break this point.

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