DAILY FX FORECASTS FXDREAM EUR/USD Date: Thu, 14 August 2008 07:30:05 Resistance levels: 1.4970/1.5080/1.5100 Support levels: 1.4850/1.4820/1.4770 EUR/USD has fallen back below 1.4880 yesterday Today focus will be on US Core Consumer Price Index numbers at 12:30 GMT The conensus is at 0.2%. On downside, if the number comes out at 0.4% or higher , retest of 1.4820 lows and even 1.4770 may be seen after the event On the other side, if the number comes out at 0.0% or lower, recovery towards
Australian Dollar Hits 6+ Month Low As Gold Plummets Over $35/oz Euro Struggles To Hold Above the 2007 Highs US Dollar: Technical Support Levels May Finally Force The Rally To Pause The US dollar rally showed few signs of exhaustion on Monday, as the currency rocketed higher across the majors despite there being absolutely no economic data on hand. However, there are technical indications that the greenback could be due for a pause . Indeed, the US Dollar Index ran into falling trendline
EURUSD The Euro continues its decline as the US dollar rallies across the board. Important support at 1.5 and 1.4920 has been passed by, not being able to limit the downside. Next support levels formed at 1.4820 and 1.4695/00 are pressured as the decline may continue, aiming towards the 1.4470 region within the next days. Both intraday and short term studies are bearish and there are no clear signs of a potential retracement yet. On the upside, near term resistance emerges at 1.4920 and
- Australian Dollar Hits 6+ Month Low As Gold Plummets Over $35/oz - Euro Struggles To Hold Above the 2007 Highs
Euro falls below key support levels damaging the technical picture European bonds gain further ground following Thursday
EUR/USD Resistance : 1,5190-00/ 1,5230/ 1,5250/ 1,5285/ 1,5310/ 1,5350 Support : 1,5130/ 1,5100/ 1,5080/ 1,5030/ 1,5000/ 1,4950-80/ 1,4900 Comment : Euro breached important support levels at 1,5470-5530, which were the ranges for the uptrend, and continues its sharp decline. Trichets
As seen on the weekly chart displayed below we are in for a record week of gains of the USD against Euro and GBP; breaking support levels on both pairs makes you wonder how long can this move last and where it is headed. We will probably see a retest of those support levels, now turned into resistance, and a nice rejection from there will pave the way for what some will refer to as a USD revival.
