Market Analysis

Fundamental

Technical

Futures

Central Banks

Forex Brokers

Trading Tools

More Tools

 

EUR/USD - Next target "1.60" as Euro heading to new record highs.

By:   Finotec
  • 17-03-2008
View Analysis Comments (0)
Previous Analysis | Next Analysis
Text Size
Print
Email
Add a Comment

The dollar plunged across the board on Monday as new liquidity-boosting measures launched by the Federal Reserve over the weekend failed to assuage worries about the health of the U.S. banking sector.

Fundamental
The dollar plunged across the board on Monday as new liquidity-boosting measures launched by the Federal Reserve over the weekend failed to assuage worries about the health of the U.S. banking sector.
The Federal Reserve took more emergency measures to stem the fast-spreading financial crisis, cutting its discount rate on Sunday and opening up discount window lending to major investment banks, a tool not used since the Great Depression.

Technical
Euro still looks set to see an eventual move through $1.60, with a number of channel projections coming in around $1.63-1.65. We should see the $1.57/1.5650 area provide support on the pullbacks.
The Euro may extend its rally to as high as $1.60, based on charts that predict price movements. The Market still is in an uptrend; according to many indicators like RSI, which is giving us a clear bullish signal, MACD breaks the equilibrium level and is pointing upwards, Bollinger gives us a bullish signal by closing the candle above the middle band.

EUR/USD (Daily Chart)
The primary tendency remains bullish, starting from 11 February 2008

EUR/USD (4 Hour Chart)
The pair continued the uptrend and reached 1.5904

EUR/USD (Hourly Chart)
The Minor trend shows us clear uptrend.

Resistance
1.5902
1.6000

Support
1.5600
1.5735

Share:
Digg
Del.icio.us
Next Analysis: CAD elevated as U.S. dollar continues downtrend
Content Provided by:
Finotec
Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and no

Become a member and get 6 free Forex courses by OTA!

 
  • Charts
 
  • Promotions
 
 

 
  • Webmaster Tools
Economic Calendar
Interest Rates
RSS
Live Currency Cross Rates
Exchange Rates Table
 
 
  • Survey

How important it is for you to be able to save your chart sessions on our site?

Very important
Nice to have but not a must
Useless feature
What do you mean "save"?

 
ForexPros.com Newsletter
 

 
  • Sponsored Links
 
 

Special Offers: