Technical analysis of forex market April 23, 2012

Europe opens the week on a decline of parity on the area supports 3180/70. The renewed anxiety about Spain for fear that it can meet its budget commitments. Similarly, the uncertainty of the French presidential weighs about 10-year rate of France that increase. Our advice in the morning, if the end of last week could bring hope to the buyers in the near ending of 3250. It seems that it was given a further opportunity for sellers to be able to place higher.
3180/70 is the area of Media with 3150. The buyers are there but with a bearish MACD 30 mins, we’re not sure it takes and therefore only brave attempt to increase with the return objectives of 322040. However, any increase should end before 3250.

On the downside, only 3150 can hold a fall of parity. In 3150, we would stay on points of well-known 3120/10 and stoploss until 3090. And then the area of media 3080/70 that can stop a bigger movement as last week by allowing parity to bounce.

Finally, one should pass over that for 3250 the trend reversed in 3280.
Finally and above 3150/3170, your turn for a 3220 consolidation. Selling below parity 3145 and in 3185/90 with stoploss between 3195 and 3205 for the same type of market that last week.

French elections and the failure of the budget discussions in the Netherlands are doubting the market today. The Eurodollar declined to come over our area supports 3120/30 and many hope that parity will rebound. Our board of the afternoon, no number U.S. to bring us to the volatility and parity risk is to continue its decline to 1.31 at the risk of below to 3080/70, or stay in a small range between 3120 and 3150.

Like last week, 3150 will be our intermediate resistance between 3180 and returning on a decline.
Sellers are just above 3150 with stoploss until 3165 for 3080/70.

Buyers are between 1.31 and up to 3140 with stoploss between 3105 and 3090. But it would be best to wait for a return to power in 3120 and stoploss is placed just below 1.31
30 mins The MACD is always bearish. But normally, we should be above 1.31.
Also, your turn them away with stoploss adapted.
Finally a passage above 3150, we sent over 3180. However these levels and in 3190, sellers should be placed back with stoploss between 3195 and 3205.

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