Euro vs Usd Chart 1 Feb 2010

Friday’s widespread down bar on the euro vs dollar daily chart added further to the recent bearish momentum down self evident for this major currency pair with Friday’s price ending a week of down candles.   With all our short term moving averages now pointing sharply lower and with the high of each day finding resistance from the 9 day moving average the short term outlook for the euro vs dollar remains firmly bearish, particularly as we have now broken through the recent floor of support in the USD1.4050 region and the next key support level now awaits at USD1.3750.  Should this be breached then we could see a sharp drop, possibly to re-test the USD1.30 price point and even as far back as USD1.25 in the longer term.  The weekly chart also confirms this bearish picture with the 9 week moving average now crossing below the 40 week average and a quick look at the monthly chart clearly confirms  December’s bearish engulfing signal.

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All the fundamental news for the euro vs dollar is covered on the euro to dollar site.