EUR/USD-lack of drive, in euro, US dollar looks at full throttle ...

Dollar fell to a different day against the euro and the yen before reports this week that may show United States housing market remains fragile, add to the signs that growth in the world's largest economy is declining. Anthony Boyajian
21 September 2010 print this article

The dollar fell for a second day against the euro and the yen before reports this week that can display the u.s. housing market is still fragile, add to the indications that the growth of the world's largest economy takes the American currency. approaching a six-week low versus the euro on the concern of the Central Bank will today confirm its promise to keep interest rates low for a "grace period" and the signal is open for increasing debt purchases. Yuan climbed to the highest level since 1993, after the President Barack Obama criticized China for not letting currency strength.

Trading Tactics

A lack of swing pattern could be an opportunity to sell EUR/USD.

A buyer point is on the 1.3180; former opposition is to take the profit on the 1.3310; The pivot point is the stop loss at 1.3075

A selling point is on the 1.3075;Fibonacci 38.2% is the take profit of 1.530;The pivot point is the stop loss at 1.3160

Technical: Euro constitutes a lower resistance and can start a minor downtrend.A lower back move could configure a test of 1.2960

To strengthen our analysis; we use many other indicators, starting with the MACD (moving average convergence divergence); MACD crosses the signal line we note down. momentum and RSI (Relative Strength Index) is in a downtrend; Stochastic oscillator is in bearish direction.

* Analysis is for information purposes only and does not constitute advice in any form. trading of financial products provides a high degree of risk to your capital and it is possible to lose more than your original investment.

By Finotecs professional analyst,

dealingdesk@finotec.com

EUR/USD (per hour chart)

Finotec Analysis Team
21 September 2010
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