Eur/Usd: Technical Levels To Watch For

February 17, 2009 10:35 PM Est

Casey Stubbs – Winners Edge Trading

The Euro weakened verses the dollar and broke key support levels. The next support level is1.2550 at which point the next target level is 1.2331 this is a key support level which the market hit back in October. The key resistance levels to watch are 1.2722. If the price moves past the 1.2722 the targets will be 1.2825 and 1.2937. Due to the break of the key support level I am anticipating a move to test the 1.2550 and a drop below that to reach a double bottom at 1.2331.

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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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