Analysis for EURUSD 01 – 05 Mar 2010

Previous Week 15-19 Feb

O: 1.3623 H: 1.3788 L: 1.3442 C: 1.3594

Last Week 22-26 Feb

O: 1.3628 H: 1.3691 L: 1.3450 C: 1.3615

Weekly

Daily

Hourly

Expected for the week

• Last week = low high, high low. Saw a double bottom at 1.3450 (1.3442 previous week).
• On the hourly and daily, we are currently out of the “bear zone” but in order to see a real bullish move, this pair would have to push above 1.37.
• We are seeing some news over the weekend like Germany and France considering a $41b bailout plan for Greece so this may just give Euro the much needed boost it needs.
• Having said, news are sometimes already factored in so that may be what gave the rise to this pair on Friday.
• We are also seeing some very important data coming out on Thur and Fri so we may be in for a volatile week.
• Support: 1.3504, 1.3445, 1.3287
• Resistance: 1.3715, 1.3749, 1.3826, 1.3925

Fundamentals:

Mon – EUR/NY Wed – EUR/NY Thu –NY Fri –NY

Analysis for EURUSD 22-26 Feb 2010

Previous Week 8-12 Feb

O: 1.3642 H: 1.3839 L: 1.3530 C: 1.3616

Last Week 15-19 Feb

O: 1.3623 H: 1.3788 L: 1.3442 C: 1.3594

Weekly

Daily

Hourly

Expected for the week

• China will be opened after closing for a week.
• Last week, we saw a lower low and a lower high and on the weekly, the trend is still down.
• The Fed’s announcement on Thurs (Feb 18) to increase the discount rate from 0.75% boosted the dollar across the board and we saw a low of 1.3442 for the week.
• However, we may see some volatile movements with Greece’s attempt at reducing its public deficit.
• The trend is down but if we are able to break above 1.3655, the bulls may have the upper hand for the week and we may see 1.3788, 1.3828.
• If not, anything below 1.3434 and we will see the 1.32 levels.
• See charts for important levels.
  

Fundamentals:

Tue – EUR/NY Wed – EUR/NY Thu – EUR/NY Fri –NY