EUR/USD: 1.2750 looms as pivotal support level
The EUR/USD has eased by around 25 pips in Asian trade, falling in sympathy with the AUD/USD more than anything else. If we get a swift sell-off in Europe then it will certainly be good value to buy near 1.2750 with a tightish stop as there is very important support near there. If it drifts slowly lower then I’d be less inclined to buy on a Friday afternoon.
USD/JPY has been a waste of time today and its really all been about the Anzacs.
Sean, what’s your opinion on the buy AUD in the area of 0.9668?
Picking a level where it will stop is guesswork Serga but what we can be 100% sure of is that pretty soon it will stop falling and either retrace or consolidate; that always happens. I prefer to wait n see how mkt looks at that level- why do you pick that number?
I have there is a trend line on the weekly chart, from the lows 2008.10.26., 2009.03.01, 2009.03.08
ok thks