AdaptiveForexTrading

Zones of Support and Resistance 9/26/2012

FX:EURUSD   Euro / U.S. Dollar
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The price continues to decline in a slow orderly fashion. It is important to pay attention to the support zones for a bounce and a possible continuation of the bullish trend . One key level is at 1.2745 where the high on the June 18 intersects with the current support trend line . I believe the strongest zone of support to be between 1.2515 and 1.2587 where the previous breakout occurred.

Zones of Support
1st: 1.2824 - 1.2809
2nd: 1.2745
3rd: 1.2662 - 1.2587
4th: 1.2515 - 1.2434

Zones of Resistance
1st: 1.2990
2nd: 1.3170
3rd: 1.3287

Comments

Agreed.
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Followed.
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