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Forex Pub Report, September 27, 2005 |
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The Euro is trading around 1.1995 at the time of writing, with minor support
1.1990, and 1.1965 next. We expect that 1.1885 might be a target for late in the day or by Wednesday.
...and the experts say...
(Action Forex) The euro extended recent losses vis-à-vis the U.S. dollar today as the
single currency tested bids around the US$ 1.1990 level and was capped
around the $1.2080 level. Today's intraday low represents the common
currency's weakest print since 27 July. Traders are principally focused
on hawkish comments from Federal Reserve officials and this is driving
the dollar higher.(more)
(Saxo)A difficult market today, as the unexpectedly strong IFO figure made
EUR/USD appear as if it wanted to stage a reversal before it was pushed
lower again. This challenging environment may continue around the big
round number of 1.2000 in EUR/USD as many of the central banks may be
using this level as a psychological accumulation point while USD longs
may be mostly satisfied for now. There's still risk of another round of
selling toward 1.1900, but the going may be choppy.(more)
(Fort Knox Trading) EURUSD has settled into a good downward trend and is moving nicely in
last few weeks. An important level can be seen around 1.1870-1850 area,
break of which will open up new targets below 1.1750 level.
RSI is also on the lower side and thus we might see a bounce back
from 1.1850 level towards 1.2200 level before continuing back in long
term downward trend.
(more)
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Forex Report