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Forex Pub Report, August 29, 2005 |
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On EUR/USD
The dollar bull appears to have ridden its course. The Euro is expected to strengthen to the 1.2450 level by mid-week.
...and the experts say...
(www.i-knowindices.com via fxstreetcom) - "EURO will be moderate initially around 1.2290 level due to less USD
demand, towards mid-week it is expected to become firm to the level of
1.2443 and by week end is expected to become firm to the level 1.2538.
Wide-range swings are expected with high intra-day volatility Good time
to do strategic swing trades. Buy during correction and cover during
rise.
Support and Resistant Levels -Resistance at 1.2443 / 1.2476 / 1.2538 support at 1.2245 / 1.2189 / 1.2145 levels."
(www.forex-strategy.com/) - "EUR/USD (1.2289) / Weekly Forecast
Trading range: 1.2115 / 1.2340
Trend: Downward
It
is starting the most important week for the dollar that could push a
tendency for September into one of both directions. The key economic
events during the week will follow everyday. Among the most important
are Friday’s non-farm payrolls, Consumer Confidence and Factory Orders
on Tuesday, GDP-Prel on Wednesday and Thursday’s ISM Index. It is
expecting recovery of the dollar to levels of 1.2150 even below if the
US data is firm and the oil prices are without new jumps high."
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Forex Report