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Dec 21
EUR/USD - May 24, 2011: Testing To 1.4125
Tuesday, 24 May 2011 05:33

Yesterday: Open 1.4117 High 1.4136 Low 1.3969 Close 1.4049

All day yesterday, the Euro strong bearish movement with daily lows at 1.3969. Having failed to touch second support level at 1.3955, Euro sideways movement focuses on the first support level 1.4013.

Currently visible movement of Euro combing diagonal trend lines.

The focus of today's economic data for the EUR / USD is:
1. Germany EUR Final GDP q/q
2. EUR Germany Ifo Business Climate
3. EUR Industrial New Orders m/m

20110524_eur

If the price increases continue to open opportunities to the 1.4125 resistance level.

Conversely if the decline continues, the price of open opportunities to the 1.3955 level.

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

While the Stochastic indicator indicates there is still bullish when falling from the diagonal trend lines.