FX.co ★ EUR/USD Daily Outlook For May 10th / 2011

THE DAILY OUTLOOK :

The EUR/USD has traded below the 5 days and the 20 days periode Simple Moving Avarage, however the pair traded above the 60 days periode Simple Moving Avarage and the MACD traded at the Speculative Sell Area (the Death Cross above 0 level). At now the pair wants to test the previous Low at the 1.4254 , if this level can be broken it will cause the pair to test the next target at the 1.4153; on the other hand, if today the EUR/USD can break out the 1.4427 level, it will lead this pair to going up to the next target at the 1.4535.