Theleftanchor.com::Forex trading -Technical analysis daily,weekly

The day could be especially difficult today with the City of London and New York closed for holidays. 4320 was our closing is Friday and this morning the euro is back on our resistance of 4250. Our board this morning, hard to say how the day will happen, either we have enough volatility and we should have a normal day, or the market is flat and we risk to evolve in a narrow range, so dangerous.

The MACD is bearish and 30 mns an underpass should send us on 4250 4220. As the 30 mins is bearish, it will make sure that we not go under 4220 and therefore supports our area 4180/70. The 4am is it bullish sign that we’ll have a day of consolidation and therefore we can buy media 4250/4220. On the other hand, it will sell the high points of resistance to 4280/95 (4305/10 stoploss on) and 4320 (stoploss 4345/80). But- over 4320/40, our targets will be 4380 and 4420.
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Last Sunday, we wrote “Nevertheless, and for now, we should be able to stay on above 1.60 for can- continue to be stored between points last week and the area of 6320/30 will increase our strength with intermediate resistance before 6380 as a return on 1.66/67. “parity and there was finished 6510, Friday.

Every week in our audio commentaries, we talked about persistent rumors about a possible rate hike from the Bank of England and the pound sterling was largely supported by it. In addition a note of the OECD is in the same direction strongly encouraging British financial authorities to go back to their faster rate in order to fight against inflation becomes a threat.
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Last week, we wrote, “Be a bounce on our support points (stoploss on 3970/50) like last week with the start of a range of consolidation with 4320/40 as high points. It will sell its own points with stoploss at- above 4350. Either we move downward in 3970 and these cases, a return to 3750 is very feasible. “And eventually the euro has bounced in 3970 for finishing the week at 4320.

Last week was punctuated by poor U.S. statistics and at the same time Europe has tried to reassure the financial situation of Greece. As a result the euro is again on the rise but still remain under the threat of a major crisis related to debt restructuring Greek nobody wants to hear, neither the ECB nor the IMF. Knowing this, we will continue to pay, which somehow reassures markets.
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The economic data are essential to a trader in the currency market. They create volatility and allow us to make speculation. Among the most important data to keep in mind is the value of the gross product of the United States. In the forex trader traders continue to monitor this important fact and use it to determine whether to open a new position or whether to support a current.

The gross domestic product is simply the total market value of all goods and services produced in a given country. In the case of the United States, this total can be divided into four main categories: exports of consumption, investment, government spending and the net.
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Day of great volatility yesterday with a euro that’s hard to spend 1.42 and a kickback in 4250 to 1.41 this morning. The IMF issued a warning to Greece as What he This would stop to lend him money if the country did not put in place appropriate measures to avoid bankruptcy. This news was seen as an obligation for Greece to continue its privatization program and therefore supports the euro. Our board this morning, 4am, and the MACD is bullish 30 mins and 4250 is currently our resistance test before going to 4280 and why not revisit the highs of last week on 4320/40.

Nevertheless careful, if the MACD is still bullish 30 mins, he could go bearish later in the morning (possible) if we fail to pass 4250/4280. We can sell this last point with stoploss at- above that of 4295 is significant resistance. On the upside, we can replace for 4240/20 which are points of major carriers. A passage in 4220 is bearish for the 4180/70 area. Nevertheless, the bulk of the decline in the euro seems to have been done and the daily MACD is turning around. So stay tuned …
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Today the euro is having an uneven performance in their various crosses. While medium to long term the euro is still showing some strength in the near term continues to show some weakness. No wonder when you consider the political and economic situation is starring in the eurozone, increasingly divided, with very little clarity on key issues such as debt and the problem Hellenic peripheral.

EUR / USD

The EURUSD has started the day with gains for the EUR, however some words from the president of the Eurogroup, Jean Claude Junker, the aid that Greece could be delayed, have caused a significant decline that has led us to lose virtually all of the lateness in the day. The nuance of his words have caused a return to profit. To watch the first support at 1.4040 and important first important resistance at 1.4370. At this time (19:20 hours) is listed on the 1.4136. Today has been maximum and minimum 1.4206 at 1.4067.
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The EURUSD pair finally broke no minimum 1.4014 we discussed in our last report which was invalidated by the possible entry that comment. Price then made a pattern of exhaustion taking the first sign of a possible long entry that was confirmed by breaking the previous high. A good point to close or make partial profit taking was in the double zero of 1.4200 which coincided with 61.8%. We must always control our risk we take in every position, so go Stop resetting each time the price is what allows us more accountable.

During yesterday’s session the price formed a double bottom at that place the stop below said support would be the next step and ensure the benefits go.
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4190 at the highest this morning with a 30 mins and 4 hours MACD bullish and awaiting a speech from Mr Trichet at 11:20. The week was difficult and perhaps will be T we finish the – This beautifully, even if the trend is still bearish daily. Our board this morning, before the speech of Mr. Trichet, we should pull over as parity with the area as supports 4150/40 and our highest. The MACD 30 mins “seems” to reach the end race and for now, we sell “moderately” with the highest stoploss of 4205 and a target for 4150/40 and we will purchase these items.

Insofar as the 4h is still bullish, we will pay attention to a passage- Above 4195 to 4220 and why not 4280, as we remain in- over 4150/40. Nevertheless, it must be remembered that the daily MACD is still bearish and that although this retracement may also be a trap. Thus, it will be this afternoon noon with U.S. statistics to see if we are witnessing a reversal of trend or if it’s just a trap to better buyer decreasing again tomorrow, Friday.
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Globalization has made the world more closely, economic factors or conditions in financial markets of a country or region are rapidly and with greater weight to the performance of the economy or markets worldwide. It turns out that not only are economic and financial factors that influence, but also political decisions from a congress of a country such as is happening in Greece is being again and leading to fear and uncertainty to investors worldwide. It turns out that the opposition party rejected austerity measures for the management of public finances, although it has established the requirement that both the EU and the IMF to continue to provide financial support to that country. As the world trembles, the Greek opposition party bears the financial crisis to the political arena.
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The federal agency finance U.S. announced yesterday that house prices fell U.S. March for the fifth consecutive month, indicating that the housing market remains in a recession. However, the U.S. dollar rose instead of falling, which means that the dollar will rise temporarily. The stock market is playing a leading role in currency prices. In this crucial situation, if the dollar’s behavior is modified, it is possible that the dollar and gold rise.

Data published by the U.S. Commerce Department showed that orders for durable consumption in April fell to $ 189.89 by 3.6 percent, expected 2.2 percent in March was 4.4 percent. The data for the month of April marked the biggest drop since October 2011. According to the National Bureau of Statistics of the United Kingdom, GDP growth was 0.5 percent, as expected. UK GDP grew by 1.8 percent in the year, as expected.
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