Week 7 0f 2010 (Feb 15 – Feb 19)

Muhammad Zeeshan Ali from AMZ Capital at 02/15/10

EURUSD is moving in a nice downward trend. Although it is getting a bit over-sold but it is also taking decent retracement to create enough space to continue its trend. Currently it has a very good selling level present around 1.3730 and selling anything around that level seems a good option for target around 1.3430 level. RSI is still on lower side but have enough space for EURUSD to make a move towards 1.3430 level.