As my prediction in EUR long term weekly analysis , in this week EUR will moving toward 1.4275 and then 1.4363 as its target. Entry point in 1.4230 is suggested considering its moving up trend.
I placed FIBO 100 in level 1.3954 where two Moving Average trends ( red and blue line ) and Middle Bollinger are crossover . Grab the trend moving up ,and placed FIBO 38.2 in a par of my Support level 1.4152. And that makes 1.4152 become a Strong Support level. If this 1.4152 is break , than the bullish structure will change into a deep bearish market .
By place FIBO 38.2 in level 1.4152 , we can find FIBO 0.0 stay in level 1.4275 . I assumed this 1.4275 level as my Resistance level.
Trading Range : 1.4095 – 1.4275
Support : 1.4152
Resistance : 1.4275
Trend : Potential Up
Target : 1.4275 , 1.4363
Happy Trading !!! July 27, 2009
Himawan Wardhana
founder of HIMAWAN FOREX
