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EUR/USD Daily Technical Forex

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EUR/USD Daily Technical Forex

Wed, May 7 2008, 07:02 GMT
by Timothy Straiton

Stoploss.ch


Current level at 09:00 CET is 1.5490, trading below the daily pivot point level of 1.5525, having seen a high yesterday of 1.5595 and a low of 1.5453. Both daily and hourly Bollinger and standard error bands are poised to the downside while daily MACD remains below the zero line. These indications reflect the difficulty the EUR has to make headway at present. The daily Ichimoku cloud (1.5133 - 1.5527) which has managed to ward off attacks to the downside over the past two months seems to be losing its protective effect. Pivot point related support levels for today are set at 1.5456 and then 1.5383. Resistance levels are at 1.5598 and then 1.5667.

Published on  Wed, May 7 2008, 07:03 GMT


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