Fundamental

Technical

Futures

Central Banks

Forex Brokers

Trading Tools


Crosses


  

EURO/USD Daily Analysis - Morning Session - GMT

By:   Forexpros.com
  • 08-20-2008
0
votes
 
View Comments (0)
Previous Analysis | Next Analysis
Text Size
Print
Email
Add a Comment

Another stop driven break under the 1.4650 area bought by Russian names traders say; better than expected German ZEW data helps the rate off the lows. Rally over the 1.4750 area likely included some short covering. Today’s US data caused some whipsaw but unable to make new lows. Traders report large bids on the drop but volumes died later. Traders report model/macro accounts continue selling the rate. Traders suggesting that the rate is vulnerable to a short squeeze. Market is heavily short now so expect a rally. Larger names buying last week traders say. Likely the rate has flushed all longs. Aggressive traders can buy this dip for a return to resistance. Rate continues to track Cable and vice-versa. Now that stops are cleared a rotation higher is coming. US data this week likely to be unfriendly so be ready for whipsaw.
Data due Wednesday: All times EASTERN (-5 GMT)
NONE

Euro/USD Daily
Resistance 3:  1.4850
Resistance 2:  1.4820/30
Resistance 1:  1.4790/1.4800
Latest New York:  1.4791
Support 1:  1.4620/30
Support 2:  1.4600
Support 3:  1.4570/80


Attached Images
 


Share:
Digg
Del.icio.us
Add to Mixx! Mixx it!
 Reddit!
 Wikio
Next Analysis: Technical oscillators supporting the bullish trend for the EUR/USD currency pair
Content Provided by:
Forexpros.com
With a solid background in financial markets, our goal is to provide both novice and experienced traders with neutral and unbiased information on specific financial segments, including Brokers, Fund managers, Real-time quotes & charts, Courses, Books, Software Providers, Educational & ...

DISCLAIMER:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.


Comments
Add a Comment
Title:
Your Opinion:
Become a member and get 6 free Forex courses by Online Trading Academy!
 

 
  • Chart
 

 
  • Survey

What do you hope to improve ?

My trading Platform
My Signal Software
My Charting Application

 
ForexPros.com Newsletter
 

 
  • Sponsored Links
 
 

Special Offers: