2 Mar Forex Update
- Posted by tradingpoints
- on March 2nd, 2010
British Pound $GBPUSD
Following Monday’s collapse into weekly 61.8% major Fib support, the Euro was able to bounce on the hourly charts and hold a 61.8% Fib retrace on Tuesday AM in Europe. Still a pattern of lower lows and lower highs in all time-frames.
The 240 min and daily charts are bearish below 1.5091.
Daily & Weekly Charts are maximum bearish oversold.
Euro $EURUSD
Euro Yen $EURJPY
Retesting lows, after failure to clear 240 min resistance. Weak, despite flashing a technical bearish price extreme late last week.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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