Weekly Forex Signals
Down trend on long term looks certain for Euro
Mon, Jan 26 2009, 09:04 GMT
by Benny Menashe
Finotec Group Inc. | View company's profile
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| Buy a break of resistance level at 1.3385 | Sell a break of support level at 1.2770 |
| Buy a break of resistance level at 1.3105 | Sell a break of support level at 1.2645 |
| Buy a bounce at 1.2770 | Sell a failure of breaking the resistance 1.3385 |
Fundamental
The dollar will decline as gold’s 4 percent rally today signals the Federal Reserve may succeed in reviving the economy by pumping money into the financial system, boosting inflation, according to Citigroup Inc. European Central Bank President Jean-Claude Trichet said that no-one is challenging the “credibility” or the “solidity” of the euro.
Technical
Technical analysis show us the euro may continue its downtrend as MACD giving us a selling signal by crossing MACD line to the signal line and RSI breaks 70% line downwards. Bollinger gives us a bearish signal by closing the candle below the lower band.
EUR/USD (Daily Chart)
The primary tendency fails to break standard error channel upper line.

EUR/USD (4 Hour Chart)
The pair is in a clear downtrend.

EUR/USD (Hourly Chart)
The Minor trend breaks Fibonacci 23.6% level.

Resistance
1.3385
1.3105
Support
1.2770
1.2645
Published on
Mon, Jan 26 2009, 09:09 GMT
Archive
- USD slows down as EUR looks to accelerate
Published On Mon, Mar 15 2010, 07:57 GMT
- Greenback inactivity helps Euro rise in style
Published On Mon, Mar 8 2010, 11:57 GMT
- Momentum holds USD while Euro looks to recover
Published On Mon, Mar 1 2010, 11:59 GMT
- Euro slows down as USD continue to accelerate
Published On Mon, Feb 22 2010, 11:04 GMT
- Euro in trouble as U.S. dollar continues to gain strength
Published On Tue, Feb 16 2010, 12:12 GMT
[ View All ]
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