Wednesday, 29 February 2012

EUR/USD 29 Feb 2012


Euro Dollar: recovered the pair strongly from the lows Tuesday that formed earlier at the point 1.3388, after being able to overcome early losses, 

which had come a long announcement the Irish government for its intention to hold a referendum on the Financial Stability Plan adopted by the EU in its peak years. Announcement expected by the Central Bank of the European program LTRO and meaning to provide financing sufficient and interest rates reasonable and maturities suitable to support the banking sector will be the premier event in the diary today's economic and depend influence the final outcome of the evaluation of the market to either side of the two presidents on the single currency first will be downward as in the end represents the species or forms of quantitative easing in the upward potential for impact due to its important role in stabilizing the credit markets. Technical support, the rising trading channel shown on the attached chart is again able to contain the daily decline for the second time in a row parallel to the patch level of 61.8% Vebo downward trend between 1.3670 -1.1923 Almovinj also the level of 100 on the chart time was there to provide support.

 Friday's low of 1.3356 is supposed to contain any sharp downward corrections in the case of the survival of the husband is unable to break the current highest annual summits in order to keep a positive bias in the very near range. On the other hand, the resistance will be provided near the recent daily peaks in the range 1.3470-1.3385 and the highest fraction of that region will allow the husband to build a rally towards the new higher price level, test the pivotal 1.3500.

S3 S2 S1 PP R1 R2 R31.3359 1.3390 1.3410 1.3441 1.3472 1.3492 1.3523

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