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EUR/US$

The Euro found some support below the 1.25 level against the dollar on Thursday, but struggled to make significant headway. Increasing fears over the US fundamentals is being offset by dollar support on risk aversion and fears over a sharp global downturn. There is the prospect of a further tough battle for supremacy between these two forces.

The US economic data remained bleak with initial jobless claims rising sharply for the second successive week to 542,000 from a revised 515,000 previously. This was the highest figure since 1982 and will reinforce fears over a very sharp downturn, especially with continuing claims also rising rapidly. The Philadelphia ...

By Roger Nusbaum, greenfaucet.com

If you have ever done yoga you may have heard the above expression. It means don't worry about what the person next to you in the yoga class is doing. I believe there is an investment implication in this saying.

The market action is whipping up emotions. Yesterday there were over 50 comments left on my blog for a post that was meant to just be a mid-day humor attempt. People are coming unglued which happens during bear markets as I am sure you can imagine.

In those comments were some rants, delusions, aspersions on my character and little bit of good old fashioned fear. While a lot of blog traffic is a good thing I believe that one things that happens is that people ...

[SIZE="5"]EUR/USD - Euro Dollar[/SIZE]
1,2524. EUR USD is in an downtrend directed by daily exponential moving averages. EUR USD is in a consolidation after the last bearish movement. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,2390 (134 pips). If the support is broken then the target will be 1,1950 (574 pips). We are waiting for a break of the support to take a short position.
[INDENT][B]Resistances[/B]
1,2550 - 1,2590
[B]Supports[/B]
1,2430 - 1,2330[/INDENT]more information on [URL="http://www.mataf.net/en/forex-eurusd.htm"]EUR/USD - Euro ...

[B]Bias: [/B] Support is at 93.10-37 and I suspect this area will hold for a reversal higher

Losses were stronger than expected but while I feel there is still potential to reach this area I feel it will hold to cause a reversal higher. Only an earlier break above the 94.69 area will imply an earlier break higher and then we should see gains push to 95.00-20 and probably closer to the 95.60 area. Around here a pullback is possible ahead of a second attempt at the 96.23 corrective high - possibly a little higher. Take care this could cause a reversal lower. Only above 96.30 would see a move into the 96.50-00 congestion area.

For full analysis please open today's full report in PDF format.

Attached Files

• The Brief Daily Forecaster.pdf (109.7 KB, 94 次查看)