Archive | June, 2011

Forex Signals – Euro Dodging Bullet

EURUSD Technical Analysis

EURUSD broke above the minor trendline on daily chart, it then came back to re-test it before heading up. Now we are looking at test of major daily Trendline at around 1.4550 area.

If price manages to break above then it has lot more room to move up. However the recent bullishness may not last long and price could turn around from this point.

EURUSD Fundamental Analysis

Yesterday Greece voted in favor of austerity plan, dodging the bullet but all is not good yet. Today they will vote again for a second bill in the parliament containing implementation details of austerity plan. If this bill goes through then it will clear the way for release of 12b Euros from IMF which will go towards debt repayments.

In my opinion, all these efforts are only going to delay the underlying issues. What Greece and Europe in whole need is economic growth. Without which there is no real way of getting out of the troubled times. Keep an eye on the several news items due today and tomorrow which will give us an idea of Euro zone economic health. I doubt we are going to see numbers improving anytime soon.

EURUSD Forex Signal

Look for short around 1.4550. If price manages to break and close above this level then it will open room for further upside movement, remain bearish until then.

Don’t agree with this analysis? Leave a comment below.

Forex Signals – EURO Gets A Helping Hand

EURUSD bounced up yesterday, lets see why and where price is likely to head next.

EURUSD Technical Analysis

We looked at Weekly chart yesterday and noticed price close to Support level. Later price bounced up and finished bullish on daily chart. See below.

Typically candle formation like this one would signal further upside movement to come. However note daily Trendline above which is acting as Resistance from letting price move upwards. Most likely we will see a bear move towards the lower Trendline.

EURUSD Fundamental Analysis

France made headlines when it offered a radical solution for Greek debt. They discussed a plan where Greek debt will be rolled over for 30 years. Germany also showed signs of support for this plan which lifted the confidence among Euro bulls.

As we noted yesterday, Greek parliament will vote tomorrow on bills containing austerity measures, passing of which could see Greece getting the much needed 12b euros. This could lift the Euro up, however most market analyst believe that this is only a temporary measure which will delay an inevitable default or debt restructuring.

EURUSD Forex Signal

Look for shorts until 1.4150, if price manages to break and close above the Trendline at 1.4360 then it will open room for further bullish movement.

Don’t agree with this analysis? Leave a comment below.

1000 Pips GiveAway - Free Expert Advisor

No TIME!! That was always my problem. This EA has been long time coming, glad it is finally here.
-Andy F.

  • 1000 Pips For You To Keep
  • No Strings, No fees, No Hidden Costs
  • Automatic Execution via Trade Copier
  • Available to First 1000 Participants Only!