EUR/USD Analysis - May 25, 201
Wednesday, 25 May 2011 05:54
Forex EUR/USD Intraday Analysis - May 25, 2011: Testing to 1.4000, Beware Rebound
Yesterday: Open 1.4117 High 1.4136 Low 1.3969 Close 1.4049
After almost touching the first support level at 1.4000, the euro rebounded by combing the trend line diagonally up to several times touched first the resistance level at 1.4125. Finally, the Euro currency movements corrections to the daily closing level in ...
Currently Euro bearish movement is limited because of the stochastic indicator has reached the oversold area.
The focus of today's economic data for the EUR / USD is:
1. EUR GfK Consumer Climate Germany
2. EUR Italian Retail Sales m / m
If the price continues to increase opportunities towards 1.4125 and 1.4201 resistance level.
Conversely if the decline continues, the price opened up opportunities leading to the level of 1.4000 and 1.3955.
Prices shown on the graph H1 line MA05 and MA10 bearish conditions.
While the Stochastic indicator indicates there is still bearish when how much below the trend line diagonal.