EUR/USD: Economic Uncertainty Stalls Pair

Feb,26 2009 1:30 PM Est.

Casey Stubbs —Winners Edge Trading

The Eur/Usd currency pair has been in a range trade from the very significant levels of 1.3000 to 1.2500. The market is unsure of which way to go given all of the bad economic news all over the world. As a result we have just been going back and forth until momentum begins to move one way or another. I cannot say what is going to happen as the economic world is uncertain right now and seems to become more so everyday.

Technical analysis is pointing to an area where the market must make a decision. We are hovering near the current lows and the market has not determined if it wants to continue the trend, break the support and create new lows. The other possibility is the market could bounce off of the support create a double bottom and then head up to break the resistance of 1.3000.

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Casey Stubbs is the founder of Winners Edge Trading, which is one of the most widely read forex sites on the web. Winners Edge Trading has trained thousands of people to trade the Forex markets.

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