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Intraday Technical Analysis – November 19, 2007

Intraday Technical Analysis – November 19, 2007
Monday, November 19th, 2007 @ 8:23 am by Bogdan Parascanu

Welcome to Monday Nov 19th midday analysis -13.30 GMT

EurUsd continued to trade below the 1.4700 resistance area today, and it found support at Friday’s mid range level of 1.4625; after that the pair started to move higher and it is doing so at the moment just before the US markets open. We expect the pair to retest today’s high and perhaps make a new high in today’s US session.

eur-nov-19-07-noon.gif

GbpUsd acted very similar to the Euro, and moved lower for the first part of the day and found support at the 50.0 Fib Line of Friday’s up move and after that the pair recovered and starte dtrading above 2.0500. Getting above the trendline connecting the asian session highs will give a more bullish signal.

gbp-nov-19-07-noon.gif

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