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EURUSD’s downward movement from 1.3283 extends to as low as 1.2323. Further decline could be seen after a minor consolidation, and next target would be at 1.2200 area. Initial resistance is at 1.2430, a break above this level could indicate that a cycle bottom is being formed on 4-hour chart, then, consolidation of the downtrend could be seen. Key resistance is at the downward trend line, only a clear break above the trend line could signal completion of the downtrend.



Daily Forex Forecast

[B]BIAS[/B]: Care needed but this should correct higher now - but allow for a slightly deeper downside projection

[B]Resistance[/B]:... 1.2379... 1.2396........ 1.2418-28... 1.2460-70
[B]Support[/B]:........ 1.2336... 1.2300-10... 1.2277........ 1.2251

[B]MAIN ANALYSIS[/B]: The 1.2334-48 target was met although hourly momentum is a bit mixed. However, until something goes wrong I'd still prefer to call this higher. A break above 1.2379 & 1.2396 would be helpful but there's still a barrier at 1.2418-28 that can still hold price from pushing higher. Thus, only above 1.2430 would maintain the push higher to the 1.2460-70 area at least. Then note resistance at 1.2500-10 and stronger at 1.2559-74. Indeed, ...

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• The Brief Daily Forecaster.pdf (87.8 KB, 41 次查看)

The markets finally had some French and German data to cheer about on Thursday, and the good news helped the Euro USD reverse its downward slide. However, concerns remain high that Spain may be forced to ask for an international bailout, as the recession and banking crisis and high borrowing costs weigh heavily on the economy. With the elections still three weeks away, look for Greece to remain in the daily headlines. In the US, Pending Home Sales dropped sharply, raising concerns about the US recovery. There are a lot of EZ and US releases today, with the most important being US GDP and Employment data.

Here’s an update on technicals, fundamentals and what’s going on in the markets.

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Forex Trades 05/31 - European session - by [URL="www.forexticket.co.uk"]Forex ticket[/URL] (ex [URL="http://www.mataf.net"]mataf.net[/URL])
[b][img]http://www.forexticket.co.uk/images/_V3img/fleches/down_arrow_16.png[/img] [url="http://www.forexticket.co.uk/en/forex/eurusd"]EUR/USD - Euro / US Dollar[/url][/b]
[b]Entry[/b]: 1.2385
[b]Stop[/b]: 1.242
[b]Resistances[/b]: 1.2455 - 1.241 - 1.239
[b]Supports[/b]: 1.2265 - 1.2315 - 1.2355

[b][img]http://www.forexticket.co.uk/images/_V3img/fleches/down_arrow_16.png[/img] [url="http://www.forexticket.co.uk/en/forex/gbpusd"]GBP/USD - British Pound / US Dollar[/url][/b]
[b]Entry[/b]: 1.5475
[b]Stop[/b]: 1.551
[b]Resistances[/b]: 1.56 ...