Weekly Forex Signals

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Lehman bankruptcy helps Euro recuperate!
Mon, Sep 15 2008, 08:53 GMT
by Benny Menashe
Finotec Group Inc.
| Buy a break of resistance level at 1.4545 | Sell a break of support level at 1.4305 |
| Buy a break of resistance level at 1.4480 | Sell a break of support level at 1.4230 |
| Buy a bounce at 1.4305 | Sell 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.

EUR/USD (4 Hour Chart)
The pair breaks the channel upper line.

EUR/USD (Hourly Chart)
The Minor trend shows us a clear uptrend.

Resistance
1.4545
1.4480
Support
1.4305
1.4230
Published on
Mon, Sep 15 2008, 08:57 GMT
Archive
- Down trend on long term looks certain for Euro
Published On Mon, Dec 1 2008, 11:02 GMT
- Euro long term objectives could see it go further down
Published On Tue, Nov 25 2008, 05:35 GMT
- Sterling hits 13-years low on UK rate cut view
Published On Mon, Nov 17 2008, 11:09 GMT
- Euro looking to bounce against sluggish Dollar
Published On Mon, Nov 10 2008, 09:59 GMT
- The pound climbed against the dollar and euro on speculation rising stocks
Published On Mon, Nov 3 2008, 09:12 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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