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Euros to Pounds : Forex Chart 24 Sep 2009

Forex $echnicallysis :  $uros to Poundsrong>

Following the sharp rally higher of last week, the euros to pounds pair has paused for breath having breached the all important resistance in the o.8750 to 0.8950 price region, with yesterday’s candle closing as a narrow spread down bar with small shadows to both top and bottom.  The reversal lower came as no great surprise following on the back fo two consecutive shooting stars, which signalled a bearish tone in the short term, with currency traders banking some profits from the strong surge higher. However, with all three moving averages still pointing firmly higher and with the strong support platform now below, the euros to pounds pair should continue their bullish move once momentum has been re-established in the move with 0.93 the next target now clearly in sight.

Forex Fundamental $nalysisuros to Pounds

There is little in the way of $undamental newsthe economic calendar, and all the European items are covered for you in more detail on the euro to dollar site, with the only UK news item being a speech by BOE Chief Economist Spencer Dale who is due to speak at a Chamber of Commerce function in the UK later this morning.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.