Sunday, April 17, 2011

EUR/USD 1,4384

EUR/USD Current price: 1.4409. Euro opened the week slightly lower, following past Friday's weakness, and testing at the time of writing the 1.4415 area.

While the ECB is determinate to keep fighting inflation with rake hikes, the sovereign debt jitters continue: Greece continues to be on default risk, and protests had arisen over the weekend.

"Technically, hourly chart has a bearish perspective, with indicators heading south below their midlines, and 20 SMA above current price with a nice bearish slope and acting as dynamic resistance", said Valeria Bednarik, analyst at FXstreet.com.

"Still above 1.4400, 4 hours chart also holds a bearish tone that can weight on the pair over the next hours: 1.4365, past week low, is now key support to break", Bednarik said.

Support levels: 1.4400 1.4365 1.4320. Resistance levels: 1.4440 1.4470 1.4510.

source: fxstreet.com

19 comments:

  1. default risk sounds serious

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  2. the dollar is falling like no other, its getting rediculous

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  3. That inflation is getting a little rough

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  4. so like... is euro stronger again ?

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  5. great info, thanks for the post.

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  6. resistance levels of 1.5 is pretty good

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  7. I wish I could understand currency fluctuations and invest on forex....

    Congrats on the 600 followers!

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  8. Not a bad opening considering Fridays close

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  9. Interesting blog you have here, I'm following!

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  10. want a 100% legit tip? basic logic.

    if someone gives advice, and they give an "outlook" and they haven't made millions trading currency... why would you trust them? numbers never lie.

    practice makes perfect; learn by doing; never give up

    that's how to make money leveraging currency trades (futures notwithstanding... i know mostly about live bid/ask trading)

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  11. wow i didnt know the euro was at that price

    thanks

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  12. Not staying that high for long!

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