EUR/USD Updated Technical Analysis

FEUA

Master Trader
May 12, 2009
36
0
62
forexltd.co.uk
Our company would like to present you the latest updated Forex technical analysis for major currency pairs, including EUR/USD

The pre-planned short positions from key resistance range levels were implemented with achievement of basic anticipated targets. OsMA trend indicator, having marked preservation of close parity of both party activity with mere bullish party prevailing, gives grounds to continuing of rate range movement but in favor of planning sales. Hence, we can assume probability of another test of 1,4000/20 resistance range levels, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term sales on condition of the formation of topping signals the targets will be 1,3940/60, 1,3880/1,3900 and (or) further break-out variant up to 1,3820/40, 1,3740/60. The alternative for buyers will be above 1,4080 with the targets of 1,4120/40, 1,4180/1,4200.

As for the other charts and outlooks you can see them on the HERE.
 
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Sofia

Master Trader
Jun 20, 2009
112
2
47
Continued worries about the banking sector in the Eurozone put the Euro under pressure on Friday, after Germany's finance minister said the Bundesbank, the central Bank of Germany, could buy corporate bonds still on the market to help loosen up credit markets.

German corporate bonds have been sitting stagnant on the open market, as investors are still sitting on the sides from the debt market. this inaction is hindering growth as banks are finding it difficult to fund debt.
 

Pinalli

Master Trader
Jan 31, 2009
334
4
54
yeh!! The Dollar rose against a basket of currencies, after fears of weak corporate profits and dimming hopes for a global recovery set the tone on Friday in the Forex market. A report showing consumer confidence falling sharply in July underlined the notion that the US and in turn, global recovery is far from fruition.
 

Sofia

Master Trader
Jun 20, 2009
112
2
47
Thanks for the analysis. Currently the yen and the dollar rose against the euro as stocks snapped the longest rally in two years on concern the banking industry may take longer than expected to recover, boosting demand for the currencies as a refuge.
 

JordanW

Active Trader
Jul 24, 2009
1
0
32
I'm short the dollar all the way around. Even the pound at this point, sadly.

Its really a race to the bottom right now.
 

Sofia

Master Trader
Jun 20, 2009
112
2
47
EUR/USD's break of 1.4296 today suggests that recent rise is possibly resuming for 1.4337 high. Break there will confirm whole medium term rise from 1.2456 has resumed and should target 61.8% projection of 1.2884 to 1.4337 from 1.3747 at 1.4645 next. On the downside, however, note that below 1.4119 support mix up the short term outlook and turn focus back to 1.3832 support.