BlackCat

EURUSD Outlook for April 22 2013

FX:EURUSD   Euro Fx/U.S. Dollar
209 0 0
Price is capped between 3200 and 3000.
For the shortterm the EURUSD             looks heavy. After the sell off last week...the EURUSD             retraced up around 61.8% and is looking to continue the move further down.
If we can clear 3000 we can find interim support at 2950-2970.

The move down could be seen as a retracement of the move up (indicated by the fib)...as long as we stay above 2900/2950

if we pushed beyond 2950, 2900 could be the game changer (around the 200DMA)

As long as we stay above the 200DMA and 1.3000.. its still possible for the EURUSD             to move towards 1.3220 into the 1.3300

An alternative scenario is....we just move sideways between 1.30 and 1.32.
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