EURUSD Analysis – Sep 10, 2008

EURUSD’s bearish movement extends further to as low as 1.4046 level. Deeper decline is expected to 1.3500 in next several days. Initial resistance is from the down trend line on daily chart and key resistance is at 1.4908 level. The pair will stay in down side as the trend line resistance holds.

For long term analysis, EURUSD is in long term bearish movement. Further fall could be seen to continue, and target would be at 1.3500 followed by 1.3000 level.

eurusd daily chart