Monday, April 25, 2011

EUR/USD 1,4611

The US dollar remains weak and is extending losses across the board. EUR/USD has risen around 0.46% on Monday and within the last hour hit a 2-day peak at 1.4626. The cross holds near a 16-month high set last week at 1.4648.

From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com said, "Euro bullish momentum is not even close to give up, with the pair accelerating higher and approaching to 1.4645 past week high and roof of the daily ascendant channel, coming from February 14th".

"With 4 hours chart showing a strong 20 SMA acting as dynamic support and momentum turning flat above its midline while RSI picks up, a break above mentioned level should signal at least a continuation towards the 1.4680/1.4710 price zone", said Bednarik. "The movement will mostly be limited by lack of volume rather than lack of strength".

"Support now comes at 1.4600, yet only below 1.4580, we can see a retest of the 1.4525 lows", she concluded.

source: fxstreet.com


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7 comments:

  1. baka1236April 25, 2011 at 9:23 AM

    The dollar should start getting stronger already.

    ReplyDelete
  2. edApril 25, 2011 at 9:57 AM

    one day the dollar will be stronger than the euro

    ReplyDelete
  3. AnonymousApril 25, 2011 at 2:36 PM

    And I was wondering what's the Euro's value...

    ReplyDelete
  4. PietsApril 25, 2011 at 5:57 PM

    Anything on the Canadian dollar?

    ReplyDelete
  5. The Awesome AlienApril 25, 2011 at 6:32 PM

    fucking us dollar

    ReplyDelete
  6. RoloApril 25, 2011 at 8:44 PM

    I have a feeling that this is gonna be the start of a small decline in US dollar power. the Euro will prob hit a point or two higher.

    ReplyDelete
  7. Jessica ThompsonApril 26, 2011 at 2:59 AM

    Thanks for the update! Following and supporting. alphabetalife.blogspot.com

    ReplyDelete

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