Weekly Forex Signals

11

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Long−term objectives could see Euro rise against USD
Mon, Nov 16 2009, 12:57 GMT
by Anthony Boyajian
Finotec Group Inc.
| Buy a break of resistance level at 1.5065 | Sell a break of support level at 1.4940 |
| Buy a break of resistance level at 1.5270 | Sell a break of support level at 1.4890 |
| Buy a bounce at 1.4940 | Sell a failure of breaking the resistance 1.5065 |
Fundamental
The euro rose for a second day against the dollar as signs the global economy is recovering boosted demand for higher-yielding assets.The euro gained against 12 of its 16 most-active counterparts as Japan’s gross domestic product expanded for a second-consecutive quarter. The dollar fell against 14 major currencies after Asia-Pacific leaders pledged to maintain stimulus measures until there’s “durable” growth.
Technical
Technical analysis shows us the euro may continue its uptrend against U.S. dollar as MACD show us a divergences. RSI is in an uptrend. Bollinger gives us a bullish signal by closing the candle above the middle line.
EUR/USD (Daily Chart)
The primary tendency shows us a clear uptrend.

EUR/USD (4 Hour Chart)
The pair fails to make a higher high.

EUR/USD (Hourly Chart)
The Minor trend trying to break 1.5000.

Resistance
1.5065
1.5270
Support
1.4940
1.4890
Published on
Mon, Nov 16 2009, 12:57 GMT
Archive
- Long-term objectives could see Euro rise against USD
Published On Mon, Nov 16 2009, 12:57 GMT
- Sterling regain due to little thrust on U.S. dollar
Published On Mon, Nov 9 2009, 10:08 GMT
- USD looking fragile against ineffective Yen
Published On Mon, Nov 2 2009, 09:26 GMT
- Uptrend on long term looks certain for Euro
Published On Mon, Oct 26 2009, 10:45 GMT
- Euro takes full advantage of worn-out dollar
Published On Mon, Oct 19 2009, 10:52 GMT
[ View All ]
Finotec
| Global financial trading center, 1 Grivas Digheni and Chrysanthou, 3035 Mylona P.O.B 58007, Limassol
http://www.finotec.com/ | support@finotec.com
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FINOTEC Trading’s Market Commentaries are provided for informational purposes only. The information contained within these reports is gathered from reputable news sources and not intended as investment advice. FINOTEC Trading assumes no responsibility or liability from gains or losses incurred by the information herein.
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