20th Sep - Recovery in EUR/GBP Underway
20 September 2012
MONTHLY CHART:
The downmove has found support from the long term 61.8% retracement.
WEEKLY CHART:
Dual resistance from the 0.8065 Jun-10 low and 0.8067 23.6% area has been reached/eroded, and a temporary pause here is no surprise. A push through this would give bulls a boost.
DAILY CHART:
The push through the level of the May low and the falling resistance line are positive signs here, implying the cross should rise further. Next resistance comes from the 0.8153 11-Jun high area, ahead of the 0.8218 Jan low, with interest currently as much in the Weekly chart levels.
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20th Sep - Silver Recovery Reaches Dual Fibonacci Resistance