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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On opening this morning, the euro took a big dive, sitting in the
1.2170 range and then continued to drop. Look for it to flirt
with 1.2100 with a few corrective bounces along the way.
...and the experts say...
(ACM-Refco) NY closed below key 1.2260 and the market opened with a 60-pip
gap at 1.2170 this morning, reaching a low of 1.2140. Bearish
trend-line is up at 1.2260 this morning, since there was not much
reason for the early sell-off, we should really pull back to 1.2240 and
close the gap before shorting fresh EURUSD. Next big support is 1.2110,
don’t expect this to break today and suggest buying in case we see a
dip in early Europe.(more)
(Saxo) EUR/USD gapped lower on the opening on the uncertainty surrounding the
German election results, and even took out the 1.2130 support as of
this writing. The pair could continue to slice lower toward the
psychologically important 1.2000 are in the coming sessions and could
even overshoot to the downside if the Fed comes out hawkish. 1.2200 is
now the key resistance.
Trading stance: play the short side below 1.2130 looking for 40 pips plus of profit. (more)
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For the time being, it appears we have reached the lower end of a
steadily falling range that was established last week. 1.2330 is
a strong support for now, but if that breaks we might dip to
1.2270. Look to pick up dips for a move back to 1.2410.
...and the experts say...
(Jyske Bank)Technical analysis soberly reveals when markets are overreacting, and
the players cannot see the forest for the trees. Of course, as a market
participant you must trust technical analysis and not be overwhelmed by
stampedes in the market, which actually often occur. Moreover, you must
abandon every attempt to apply cause and effect to the financial
markets – a practice that is often attempted. The model may work, and
it may not...(more)
(Saxo) EUR/USD fell through the lows last week as stops were taken out all the
way to the 1.2310 area. This represents a full rejection of the recent
rally, and we now focus lower on 1.2000 in the coming days. 1.2380 is
first resistance.
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