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Forex Pub Report, September 25, 2005 |
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Several key events this coming week on the calendar. Look for
some hints on the state of the US economy from Greenspan as he speaks
Monday afternoon. Tuesday will see the US Consumer Confidence
report, and Friday we'll see the US Personal Outlays. Expect the
Euro to continue to fall with a move below 1.2000 expected.
...and the experts say...
(Action Forex) The Euro is in dangerous ground. The key level in the ST/MT is
1.1975. If this level is broken could spark a selling spree, falling
almost immediatly to 1.1880/15 and then the final target around 1.1670,
1.1585 Maximum. But on the contrary, if 1.1975 contains, could generate
enough buying interest and reversal from here toward 1.2445 initially,
enroute to 1.2735/80.
This 1.1975 key level, appear until now, strong and capable of hold
the fall and push the Euro from here, rising as an impulsive reversal
uptrend; but it hasn’t been challenged (its very likely it will) yet.
At this moment, It is most likely that the Dollar
rally will end around 1.2010/00; but if 1.1975 is broken, rally
continues toward 1.1880/15 first, then 1.1670/1.1585; if not, reversal
will ocurr, targeting first 1.2445 then 1.2735/80..(more)
(Saxo)EUR/USD fell Friday as the correction higher proved very
short-lived. With the failure, we look for a continuation of the move
lower toward 1.2000 and even 1.1950 in the days ahead if the pair stays
below 1.2180 resistance.(more)
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Forex Report