04 October 2010 print this articleBuy a break on the resistance level of 1.3800Sell a break on the support level at 1.3700Buy a pause at the resistance level of 1.3820Sell a break on the support level at 1.3650Sell a failure to break the resistance 1.3800
Basic
The euro fell from a six-month high against the dollar as the concern of the European Nations public debt reduced demand for the region's assets.The single currency fell against 13 of the 16 major counterparts after the Financial Times reported on Ireland's budget deficits this year will be higher than the previous forecast and Nobel Prize-winning economist Joseph Stiglitz said of the future "looking bleak."
Technical
Technical analysis shows the euro can continue its uptrend. We note the demand on the market by means of indicators such as MACD, which shows the strength of the market. RSI is in an uptrend. Bollinger provides an offensive signal by closing the candle above middle band.
EUR/USD (daily chart)
The primary trend break the trend line up.
EUR/USD (4-hour chart)
The couple would continue the great uptrend.
EUR/USD (per hour chart)
The less bounces on the standard error channel trend line.
Resistance
1.3800 1.3820
Support
1.3700 1.3650
Finotec Analysis Team04 October 2010
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