Forex Trading Tips - Week ahead of Feb 10, 2014

ECB has held for another month. Market has re-adjusted some of its short EUR positioning and EURUSD climbed to a high of 1.3620. It is still above 1.3600 towards the European close. A daily close above 1.3595 is a short-term bullish development. 

Key resistance on the upside are 
   a. 1.3626 – 38.2% Fibonacci retracement of late December to early February, and the Kijun line on the daily cloud. 

    b. Above here it can possible go to 1.3651 – the 50-day sma. 

Key support are 
    a. 1.3477 – the low from Monday 
    b. 1.3385 – the 200-day sma. 


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