EURUSD 100 and 200-MA as sturdy pedestal

At the beginning of the new week off with a balanced battle of the last days she ran longer equilibrium values ??averages of 100 and 200-MA, which this week will play a key role. In view of the fact that the last price increase through more retail traders have moved to the short side, do not expect a drop below these limits strong support soon.

We can now pass as corrective zig-zag formation, which should not exceed the indicated wave band (I) and preferred triangular formations which could best sentiment indices in terms of long / short side match. Unwinding transport in a narrow triangular band could be estimated from the point of view that will be on Thursday and Friday, U.S. markets closed due to holidays.For a more substantial development so we could wait until the next weeks.

Josef Kvarda
Analyst HighSky Brokers, Inc.

HighSky Brokers, as is a Czech investment firm focusing on forex , commodities , stock indices, stocks and bonds.