07
Aug
08

EURUSD daily analysis

News :

* 12:00 – German industrial production (medium)

* 13:45 – minimum bid rate (High)

* 14:30 – ECB Conference Press (High)

* 14:30 – Unemployment Claims (medium)

* 16:00 – Pending Home Sales m/m (High)

EURUSD Daily Supports and Resistances

R1= 1.5510

S1= 1.5395

There seems to be a reversal underway.  Look for long entry points during the London Session ; New York session might be unstable or trading in a range : look for reversals.  If the London Session ends quietly then we might have a trend during the American Session.  Beware : insider trading is necessary for the creation of trends and it takes place before the annoucements (exemple : London last week, Germany’s GDP this week, Turkey’s court decision last week).

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