Weekly Forex Signals

7

2
Downtrend on short term looks certain for Euro
Mon, Oct 12 2009, 09:15 GMT
by Anthony Boyajian
Finotec Group Inc.
| Buy a break of resistance level at 1.4730 | Sell a break of support level at 1.4650 |
| Buy a break of resistance level at 1.4810 | Sell a break of support level at 1.4570 |
| Buy a bounce at 1.4650 | Sell a failure of breaking the resistance 1.4730 |
Fundamental
Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades. Policy makers boosted foreign currency holdings by $413 billion last quarter, the most since at least 2003, to $7.3 trillion. Nations reporting currency breakdowns put 63 percent of the new cash into euros and yen in April, May and June, the latest Barclays Capital data show. That’s the highest percentage in any quarter with more than an $80 billion increase.
Technical
Technical analysis show us the euro may continue its downtrend for a short period as MACD gives 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 upper band.
EUR/USD (Daily Chart)
The primary tendency is still in an uptrend.

EUR/USD (4 Hour Chart)
The pair breaks previous support level.

EUR/USD (Hourly Chart)
The Minor trend is in a clear downtrend.

Resistance
1.4730
1.4810
Support
1.4650
1.4570
Published on
Mon, Oct 12 2009, 11:17 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
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
Intraday Forex Technical Report - U.S. Update: More dollar corrections by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 16:15 GMT
Daily Market Report - There are indications that the market is reducing its exposure to risk by Wells Fargo Investments, LLC
Fri, Nov 20 2009, 15:19 GMT
Fundamental Currencies Comments - Dollar climbs vs. majors by ecPulse.com
Fri, Nov 20 2009, 15:15 GMT
Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 14:22 GMT
The Daily Currency Analysis - TraderPlanet Daily Currency Analysis by TraderPlanet.com, LLC
Fri, Nov 20 2009, 14:10 GMT
eurusd
View All
Related content
Forex: EUR/USD ends week with moderate losses
FXstreet.com | Fri, Nov 20 2009, 21:27 GMT
ForexLive New York wrap-up: EUR/USD bounces after 1.4800 attack
Forex Live | Fri, Nov 20 2009, 20:58 GMT
Forex: EUR/USD rebounds at 1.4875 and falls to 1.4835
FXstreet.com | Fri, Nov 20 2009, 18:33 GMT
Forex: EUR/USD finds resistance at 1.4860, back to 1.4820
FXstreet.com | Fri, Nov 20 2009, 15:47 GMT
US Regional and State Unemployment Rates for Oct-STATS
Dow Jones | Fri, Nov 20 2009, 15:29 GMT
eurusd
View All
The Advisor Weblog » Eur/Usd technical perspective
Fri, Nov 20 2009, 12:14 GMT
FX Market Readings » Expected market moves for week end
Fri, Nov 20 2009, 07:47 GMT
The Disciplined Trader » EUR/USD consolidation will lead to break out - The question is “which way”
Thu, Nov 19 2009, 15:58 GMT
FX Market Readings » Less rise and more drops are seen
Thu, Nov 19 2009, 14:46 GMT
The Advisor Weblog » Eur/Usd approaching to key support zone
Thu, Nov 19 2009, 14:46 GMT
eurusd
View All
Technical analysis for EUR/USD, GBP/USD - Page 5 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Yellowlion's Daily EURUSD - Page 6 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Elliott charts with Grega H. - Page 2 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:05 GMT
Technical analysis for EUR/USD by AceTrader - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:03 GMT
The technical analysis of majors - Page 3 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:02 GMT
eurusd
View All
FX Instructor Live Trading Room
Mark De La Paz | Mon, Nov 23 2009, 11:00 GMT 
US Pre-Market Open
Ed Ponsi | Mon, Nov 23 2009, 13:00 GMT 
US Session Open
Ed Ponsi | Mon, Nov 23 2009, 14:30 GMT 
Weekly Webinar: 1st on Forex - The Week Ahead
Jerry Furst | Mon, Nov 23 2009, 17:00 GMT
Trading Day's Live Wrap Up - With Extra Educational Contents
Valeria Bednarik | Mon, Nov 23 2009, 22:00 GMT
eurusd
View All
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.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.