Against background of falling of oil price and “strong dollar” and expected soft monetary politics in the Euro zone the greenback inches up against the main currency. According to analysts, published data in the Euro zone is being declined from the perspective of strict monetary politics in the Euro zone. In the UK the committee which begins from Wednesday may not accept such financial measures.
Nevertheless the American stock index DAW continue bear movement. Subprime crisis goes on strongliy to influence on American economics. Today the US will publish a series of economical data. In connection with Subprime crisis traders pay attention to Pending Home Sales Index and Pending Home Sales change. If data will be strongly declined from the consensus, the forex market must be dynamically moved in spite of the US official strong dollar politics. Today there is no publication from Euro zone, the US and Japan, nevertheless high oil price begins extend bad influence on world economy and the markets, not only currency, but also stock and another, sometimes lose sense of their direction.
Stochastic on the daily chart in the currency pair EURUSD confirms candle-stick model “bear absorption” formed on Thursday that conditions on movement of 21-day moving average at $1.5620 and Fibonacci 50% level at %1.5607. A breakdown leads to the level of 100-day moving average and 1% envelope to $1.5560/85. The first resistance is at the level of $1.5740/68.
RES 4: $1.6065/75 2% envelope
RES 3: $1.6020 maximum of 22 Apr.
RES 2: $1.5910 1% envelope, maximum of 3 Jul., Upper line of Bollinger bands
RES 1: $1.5740/68 5-day moving average, Support line from 13 Jun.
current price: $1.5707
SUP 1: $1.5607/20 50% Fibonacci and 21-day moving average
SUP 2: $1.5585 1% envelope
SUP 3: $1.5560 100-day moving average
SUP 4: $1.5462 minimum 30 Jun.
Keine Kommentare:
Kommentar veröffentlichen