EURUSD Daily Update

The market fell, yesterday. Fundies wise, there was panic in the European markets and people are looking to the dollar and yen as a safe haven.

Technically, the market yesterday opened at 1.3645 and closed at 1.3516.

I wasn't available to track this pair till now but it opened at 1.3515 and is now trading at 1.3583 and the daily pivot is at 1.3543.

The fundies coming out today at 6.30pm (German Factory Orders) may not disrupt the market that much but watch out for

• 9.30pm - ECB Trichet speaks
• 11.00pm - FOMC Member Stern speaks.

We can expect the market to have an upclose today above 1.3643.

On the weekly basis, 1.3983 will be a nice resistance to look at. The monthly pivot is at 1.3942.

I attach the daily and hourly chart captured at 3.33pm. The latest candle is today's so it is still fluctuating.

DAILY CHART


HOURLY CHART