Eur/Usd: Euro Advances, Will It Continue?

March 4, 2009 4:30 Pm Est

Casey Stubbs– Winners Edge Trading

In the Asian session the Euro slid and the pair broke the support level of 1.2500 and went to 1.2456. The London and NY sessions were both strong for the Euro as the pair rebounded up to 1.2658.

The US Stock market had gains today as a rebound because of the severe losses in recent weeks. The Euro responded in line with the US Stock market.

The pair did not break any major resistance levels. There is a channel heading down on the daily chart that has not been broken. Watch the downward trend line and look to sell a bounce off of the trend wall.

Daily Eur/Usd Chart

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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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