Forex EUR/USD Intraday-12 May 2011: Test to 1.4433
Thursday, 12 May 2011 07:58
Yesterday: Open 1.3903 High 1.4387 Low 1.4199 Close 1.4172
Since trade in the Asian session to session, Europe is still visible in the condition of the sideways movement in the range of 55 pips. But since the trade session begins, the sharp decline of around 200 pips more to pass the level support at 1.4254.
Overall range high low daily divergence 220 pips. The current movement of the Euro currency seen sideways.
The focus of economic data today for the EUR/USD is:
1. EUR French CPI m/m at 12: 30 pm
2. EUR ECB Monthly Bulletin at 15: 00 WIB
3. EUR Industrial Production m/m at 15: 00 WIB
When the price increase continues to level opportunites resistance 1.4400.
Conversely, if the price drop continues then open opportunities leading to level 1 4,433.
The price on the graph visible line MA05 and H1 M10 going towards to the condition of the tangent.
While the Indicator Stochastic indicating a bearish opportunities still exist.