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
- USD strength appears to end as EUR benefits at 1.5000
Published On Mon, Nov 23 2009, 11:27 GMT
- 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
[ 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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