Andrei Pehar, Sr. Currency Strategist, fxKnight.com
Known as the "Black Knight" in trading circles, Andrei is a private fund manager, consultant to management, and a sought-after speaker, trainer, and coach for professional traders and individual investors alike. He played in professional chess tournaments at a young age, earning a rating in the U.S. Chess Federation, and went on to further hone his strategic skills by studying Japanese martial arts, bringing with him a unique perspective to the financial markets.
His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts. He is currently working on a book which will, for the first time, introduce retail traders to institutional trading strategies and techniques.
Click Here to view videos by fxKnight
Known as the "Black Knight" in trading circles, Andrei is a private fund manager, consultant to management, and a sought-after speaker, trainer, and coach for professional traders and individual investors alike. He played in professional chess tournaments at a young age, earning a rating in the U.S. Chess Federation, and went on to further hone his strategic skills by studying Japanese martial arts, bringing with him a unique perspective to the financial markets.
His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts. He is currently working on a book which will, for the first time, introduce retail traders to institutional trading strategies and techniques.
Click Here to view videos by fxKnight
Next Levels to Watch for the EUR/USD
Posted 10-09-2008 at 09:05 PM by fxKnight.com
Next Levels to Watch for the EUR/USD
The Euro has fallen sharply against the US Dollar in recent weeks, finally finding a bottom a few days ago at 1.3332, which corresponds with a 61.8% Fibonacci retracement from the all-time high of 1.6037
Where do we go next from here?
Currently, price is in the process of moving up to test the next Fib level at 1.3848, meanwhile the daily 21 exponential moving average is gradually working its way down from 1.4081 - what price does when it reaches that level will give some clues as to further direction.
A break above, followed by a re-test of support, means we will most likely go on to test 1.4365 next (perhaps eventually 1.5004). If, on the other hand, 1.3848 holds as resistance, then we could see price drop to re-test 1.3332 as support once again, perhaps eventually as low as 1.2597 if that fails to hold.
The Euro has fallen sharply against the US Dollar in recent weeks, finally finding a bottom a few days ago at 1.3332, which corresponds with a 61.8% Fibonacci retracement from the all-time high of 1.6037
Where do we go next from here?
Currently, price is in the process of moving up to test the next Fib level at 1.3848, meanwhile the daily 21 exponential moving average is gradually working its way down from 1.4081 - what price does when it reaches that level will give some clues as to further direction.
A break above, followed by a re-test of support, means we will most likely go on to test 1.4365 next (perhaps eventually 1.5004). If, on the other hand, 1.3848 holds as resistance, then we could see price drop to re-test 1.3332 as support once again, perhaps eventually as low as 1.2597 if that fails to hold.
Total Comments 0
Comments
Recent Blog Entries by fxKnight.com
- Crude Oil: A Key Level to Watch (11-20-2008)
- Has the Aussie Found Bottom? (10-22-2008)
- The Long−term Outlook for Gold (10-15-2008)
- Next Levels to Watch for the EUR/USD (10-09-2008)
- US Senate Passes Bailout Bill − Markets Unimpressed (10-02-2008)
