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Jul 23
EUR/USD - May 23, 2011: Testing to 1.4013, Beware Happen Rebound
Monday, 23 May 2011 05:06

Yesterday: Open 1.4309 High 1.4345 Low 1.4132 Close 1.4162

Yesterday, the Euro currency movements on trade in the Asian session started did not experience significant fluctuations but by the European session begins, there is a sharp decline around 200 pips with the trend line through the diagonal and the first support level at 1.4213.

After reaching its lowest level daily at 1.4132. Euro currency managed to reach back to the first support level the next Euro freefall down to the daily closing level of 1.4162.

Currently, the Euro looks bearish movement.

The focus of today's economic data for the EUR / USD is:
1. EUR French Flash Manufacturing PMI at 14:00 pm
2. EUR French Flash Services PMI at 14:00 pm
3. Germany EUR Flash Manufacturing PMI at 14:30 pm
4. Germany EUR Flash Services PMI at 14:30 pm
5. EUR Flash Manufacturing PMI at 15:00 hours GMT
6. EUR Flash Services PMI on at 15:00 pm

20110523_eur

If the price increases continue to open opportunities to the 1.4231 resistance level.

Conversely if the decline continues, the price of open opportunities to the 1.4013 level.

Prices shown on the graph H1 line MA05 and MA10 strong bearish conditions.

While the Stochastic indicator indicates there is still bearish when not cross the line oversold.