Back to the Forex Alerts day's list
Alert - 09:25 (CET) - EurUsd waiting for the ECB decision
|
There's no doubt today's the EurUsd day. With the ECB rate decision, where a 25bp cut is expected, the post-meeting Trichet speech and the employment data in the US, the pair has a lot to react to.
Retracing from the 1.3000 ceiling, given the stocks decline, the pair is trading at 1.2827, ranging from 1.2827 to 1.2956. The current price is under yesterday's close at 1.2954. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The supports are set at 1.2500 (key), 1.2324 (January 2006 high) and 1.2000 (key). As the resistance at 1.2733 (October 23rd high) was broken, the traders are watching the next at 1.3000 (key) and 1.3353 (October 21st high). In any case, remember the pair has been profit taking from the 1.3000 level.
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 49 points, rebounding from the overbought area. The average volatility per hour is 250 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.
|
|
ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance.
|