Published: Fri, 22 May 2009 11:58:25 +0200
Deltastock Daily Fx Analysis
May 22, 2009
Current level-1.3951
EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.3064 and 1.3524.
Our target at 1.3921 has been filled and currently the pair consolidates below the 1.40 sentiment level. The overall bias remains positive for 1.4173 and 1.4367 with risk limit below 1.3728. Intraday support comes at 1.3830 and crucial on the 4h chart is 1.3425.
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