EURUSD Fundamental :The USD was bid again in NY trading following up on overnight gains. Good USD demand on the back of a global financial crisis ostensibly was behind the moves. EUR/USD plunged nearly -150 pips in the session towards the 1.3070 area. The 1.3050 level now looms as critical support. Dollar strength coupled with a more modest than expected -25 bps rate cut by the Bank of Canada had USD/CAD soaring 75 pips to new highs. The pair ran into a barrier just above the 1.2200 mark but the upside bias remains while above the previous 1.2130 pivot.
EURUSD Current Price : 1.3067
EURUSD Target : optimistic;for long term is 1.2813 – it will takes time.
EURUSD Technical : EURUSD Retracement should be limited to 1.3224 or we can say more than 50.0%. This retracement will be complex. Pay attention on stochastic oscillator in all time frame – M5 to Weekly – all are in OS area, weakened -DI on ADX, this is a sign the pair will sideways for long time or it will blows to the upside depend on any news released for today. Scalping-style is needed here.
