Forex Technical Analysis - RCPL Forex

Euro: Euro gave up most of its gains in the US session as it plunged more than 200 pips from the highs of 1.3770 yesterday. Fed’s decision to buy stakes in big banks helped dollar maintain its strength against most currencies. 55 4-hourly EMA at 1.3720 remains a good resistance for the pair on the upside which if broken may take it to the next resistance of 21 daily EMA(1.3920). Volatile trade is expected in the European session as UK unemployment and Europe CPI index for the month will be announced.. (Eur/Usd:1.3590).




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