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Old 26-05-2014, 06:35
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VolkovYuriy VolkovYuriy is offline
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Default re: FreshForex - freshforex.com

The euro does not show much strength
Euro


The Monday is a bank holiday in the USA and the UK. The market activity can be low.
We expect some important economic data this week, mainly we expect the U.S. gross domestic product release. The Eurozone will publish the European Commission confidence indexes on Wednesday. The ECB President Mario Draghi will speak at the ECB forum in Portugal on Monday and Tuesday.

The experts forecast the data worse than the previous ones this week that could trigger a wave of dollar selling. If the forecast is proved it may lead to the pair correctional growth to the strong resistance level 1.3732.
The support levels are 1.3570-1.3590, and the resistance levels are 1.3620 - 1.3650.
MACD is in negative territory.

Trading recommendations

We see a classical formed a bearish divergence that can support the pair growth from the beginning of the trading week. We can close out deals at the resistance level 1.3691. The stop-loss can be placed at the resistance level 1.3732.

FreshForex Forecast
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