Previous Week 24 - 28 May
O: 1.2510 H: 1.2538 L: 1.2153 C: 1.2269
Last Week 31 May – 4 June
O: 1.2288 H: 1.2353 L: 1.954 C: 1.965
Weekly
2006 Close up
Daily
Hourly
Expected for the week:
- A huge bear came and sat on the EURUSD, breaking the 1.20 barrier not seen since 2006.
- This was due to risk aversion = stronger dollar and more BS coming out from Europe.
“I see good news from the current euro-dollar rate,” French Prime Minister Francois Fillon told reporters yesterday in Paris. President Nicolas Sarkozy “and I have been saying for years that the euro-dollar rate didn’t reflect reality and was penalizing our exports,” he said.
ECB Advocates Tightening as U.S. Wants Demand Growth (Update1)
WHERE’S MERKLE?!?
§ We have to revisit 2006 to get the S&R below 1.20.
§ All the charts shows bearish sentiments
§ On the daily, a bullish breakout will be at 1.2176 ~ 1.2396
§ If the market opens lower for the week, 1.1781 will be on the cards.
§ See charts for numbers.
2006 numbers
1.2404, 1.2334, 1.2190, 1.2029, <1.1965> 1.1949, 1.1913, 1.1869, 1.1781
Bearish numbers from last week:
Bearish: 1.2137, 1.2033, 1.1975, 1.1905, 1.1830
Fundamentals (based on +8GMT)
Mon: EUR Zone - EUR news
Wed: USD Zone – Bernanke testifies
Thu: EUR Zone - EUR/GBP bid rate
USD Zone – EUR/USD news
Fri: EUR Zone – GBP news
USD Zone – USD news
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