FXstreet.com

Weekly Forex Signals

0

0

Lehman bankruptcy helps Euro recuperate!

Mon, Sep 15 2008, 08:53 GMT
by Benny Menashe

Finotec Group Inc.


Long signalShort signal
Buy a break of resistance level at 1.4545Sell a break of support level at 1.4305
EUR/USDBuy a break of resistance level at 1.4480Sell a break of support level at 1.4230
Buy a bounce at 1.4305Sell a failure of breaking the resistance 1.4545


Fundamental

The U.S. dollar weakened against the euro after Lehman Brothers Holdings Inc. said it intends to file for bankruptcy and traders speculated the Federal Reserve may need to cut interest rates.


Technical

Euro started an uptrend for a short period of time, as we can see strong demand in the market, based on technical indicators like RSI, which breaks 30% line and is pointing upwards, MACD crosses the signal line and is pointing upwards, and Bollinger gives us a bullish signal by closing the candle above the lower band.

EUR/USD (Daily Chart)

The primary tendency is still in a downtrend.

Daily Chart

EUR/USD (4 Hour Chart)

The pair breaks the channel upper line.

Hour Chart

EUR/USD (Hourly Chart)

The Minor trend shows us a clear uptrend.

Hourly Chart

Resistance
1.4545
1.4480

Support
1.4305
1.4230


Archive

Finotec  | Global financial trading center, 1 Grivas Digheni and Chrysanthou, 3035 Mylona P.O.B 58007, Limassol
http://www.finotec.com/ | support@finotec.com

Legal disclaimer and risk disclosure

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.

Related reports

Daily Market Commentary - What is Behind the Dollar Rally? by GFT (Global Forex Trading)
Tue, Dec 2 2008, 22:17 GMT

Market Session Recaps - New York Session by FOREX.com
Tue, Dec 2 2008, 22:13 GMT

U.S. Forex Market Commentary by GCI
Tue, Dec 2 2008, 22:10 GMT

Foreing Exchange - USDCHF: Key resistance remains 1.2354, the March 2007 high by Avantage Financial GMBH
Tue, Dec 2 2008, 14:32 GMT

Currency Majors Technical Analysis by Mataf.net
Tue, Dec 2 2008, 14:11 GMT

eurusd

View All

Related content

COLUMN-Dollar demise much exaggerated: John Kemp
Thomson Financial News | Tue, Dec 2 2008, 14:58 GMT

Euro Rebounds Vs Dollar As Oil Prices Eclipse $50/Bbl
Dow Jones | Tue, Dec 2 2008, 13:56 GMT

FACTBOX-Inflationary pressures in the euro zone
Thomson Financial News | Tue, Dec 2 2008, 13:38 GMT

UPDATE: Euro-Zone Producer Prices Post Record Drop In Oct
Dow Jones | Tue, Dec 2 2008, 11:17 GMT

UPDATE 1-Euro zone Oct PPI falls, backs case to slash rates
Thomson Financial News | Tue, Dec 2 2008, 11:01 GMT

eurusd

View All

Interested in forex trading? forex brokerage firms!


ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
Interbank FX, LLC
Contact the broker/FDM
Open a demo account
NordMarkets.com
Contact the broker/FDM
Open a demo account
IG Markets
Contact the broker/FDM
Open a demo account
Deutsche Bank
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.