Finotec News Archive - May 08 2008

Technical oscillators support the bullish trend for the currency pair

EUR/USD – Market strategy can be a buy at the level 1.5369, the target 1.5500

Joana Fonseca
08 May 2008

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EUR/USD – Market strategy can be a buy at the level 1.5369, the target 1.5500

Technical oscillators support the bullish trend for the currency pair

To support our analysis we will see MACD (Moving Average Convergence Divergence); we see that the selling pressure is losing traction and that the signal line is pointing to cross the long EMA line up, which can reflect an upward trend. RSI give us the power of the market; the strength of the market is on a bearish direction, but touching the oversold level, which represents a buying signal. There are two bottoms up leading to a buying trend, according to Bollinger.
EUR/USD

Finotec Analysis Team
08 May 2008

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Today's Economic Events





Time Event Currency Period Previous Forecast Significance Actual
14:00Wholesale Inventories m/mUSDMar1.1%0.5%2-0.1%information
12:30ECB Press ConferenceEUR3information
12:30Unemployment ClaimsUSDWeekly380K370K2365Kinformation
10:00Industrial Production m/mEURMar0.4%-0.5%2-0.5%information
06:00Trade BalanceEURMar16.9B16.9B216.9Binformation

Real Time Forex Quotes

 Contract Bid Ask Time Change
EUR/USD 1.5451 1.5454 11:25:34 0.00%

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