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Alert - 10:20 (CET) - EurUsd
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After the Euro received a ray of light, surprising the Dollar with a rally up to 1.2814 dollars, it suffered a profit taking down to the intrasession low at 1.2473. The stocks are going through a series of heavy losses, prompting the investors to seek refuge in safe haven currencies like the Dollar and the Yen.
Among the themes that are worrying the stocks, we have the possible bankruptcy of the auto sector in the US, the deflationary process that the US is starting and that the banks keep having great losses in the credit sector.
Bearing in mind we'll have the unemployment claims today, the EurUsd trading at 1.2521, ranging from 1.2473 to 1.2536. The current price is over yesterday's close at 1.2489. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The supports are watched at 1.2500 (key), 1.2324 (January 2006 high) and 1.2000 (key). The resistances are being watched at 1.2733 (October 23rd high), 1.3000 (key) and 1.3353 (October 21st high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 43 points, rebounding from the overbought area. The average volatility per hour is 260 pips. Checking the daily graphics, we see that the current price is under the 38.20% (1.3063) and over the 50.00% (1.2141) Fibonacci retracement lines.
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