Posts Tagged ‘forecast

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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06
Aug
08

Eurusd daily analysis

No news today.  It will be a technical-analysis only day.  Beware : Crude Oil inventories are due today @ 10:35amET.

EURUSD Daily Supports and Resistances

S1= 1.5404

R1= 1.5534

CCI is oversold on the daily chart but 50 moving average have finally turned negative.  It might mean that there will finally be a breakout from the 1.53-1.60 box we’ve been in since February.  Given that no bottom was formed, wait for an CCI overbougth area on the 5 min chart to short the cross.




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