Analysis for EURUSD 19-23 Apr 2010

Previous Week 12 – 16 Apr

O: 1.3656 H: 1.3691 L: 1.3471 C: 1.3509

Last Week 19 – 23 Apr

O: 1.3475 H: 1.3522 L: 1.3201 C: 1.3373

Weekly

Daily

Hourly

Expected for the week

• This pair reached a yearly low at 1.3201 which was also the 23.6 Fibo line on a long time frame. (38.2 = 1.3745)
• However, this price was rejected and rallied to 1.338 levels before closing at 1.3373.
• The rally was on rumors that Greece will activate the bailout package.
• Shorts are still in play as we are in a downtrend.
• Longs have hurdles to clear at 1.3386, 1.3587, 1.3699.
• If 1.32 is taken out again, expect to see another leg down to 1.3120, 1.3002. (0 = 1.2328)

Fundamentals:

Mon – Aud Hol Tue – EUR/NY Wed – Late NY Thu –Japan Hol/EUR/NY Fri –EUR/NY