Weekly Forex Signals

10

1
Uptrend on long term looks certain for Euro
Mon, Oct 26 2009, 10:45 GMT
by Anthony Boyajian
Finotec Group Inc.
| Buy a break of resistance level at 1.5065 | Sell a break of support level at 1.4943 |
| Buy a break of resistance level at 1.5270 | Sell a break of support level at 1.4880 |
| Buy a bounce at 1.4943 | Sell a failure of breaking the resistance 1.5065 |
Fundamental
The dollar touched a 14-month low versus the euro as an advance in Asian stocks and signs the global economy is recovering reduced demand for the greenback as a refuge. The dollar fell against 11 of its 16 major counterparts before reports economists said will show confidence among U.S. and French consumers rose. South Korea’s won strengthened after its economy grew at the fastest pace in seven years. The yen and euro gained after an official Chinese paper said the nation should boost reserves in the currencies.
Technical
Technical analysis show us the euro may continue its uptrend as MACD gives us a buying signal by crossing MACD line to the signal line and RSI is in an uptrend. Bollinger gives us a bullish signal by closing the candle above the middle band.
EUR/USD (Daily Chart)
The primary tendency is still in an uptrend.

EUR/USD (4 Hour Chart)
The pair trying to break previous resistance.

EUR/USD (Hourly Chart)
The Minor trend has a strong resistance at 1.5065.

Resistance
1.5065
1.5270
Support
1.4943
1.4880
Published on
Mon, Oct 26 2009, 10:48 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
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Finotec
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