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> Deltastock Daily Fx Analysis, September 2, 2009
Stoyan Mihaylov
post Sep 2 2009, 8:26
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September 2, 2009
Current level- 1.6181

The pair is in a downtrend after peaking at 1.7042. Trading is situated between the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.

As expected, the pair peaked below 1.6402 dynamic resistance and a sell-off followed, all the way down to 1.6111. Current rebound is corrective in nature and we expect it to be limited below 1.6254, before next leg downwards, to 1.5980 major target.

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