EUR/USD Analysis-May 27,2011
Friday, 27 May 2011 03:36
Yesterday: Open 1.4103 High 1.4118 Low 1.4013 Close 1.4083 : Testing the 1.4256 Level, Alert Corrections
Towards the end of the European session yesterday, the movement of euro had touched first the resistance level at 1.4201 but a sharp correction to the past trend lines almost touching the diagonal and the first support level at 1.4058. Overall daily high low range in the range of Euro 130 pips.
Currently, the euro tried to bullish again.
The focus of today's economic data for the EUR/USD is:
1. EUR Germany Prelim CPI m / m "All Day"
2. EUR M3 Money Supply y/y
3. EUR Private Loans y/y
If the price continues to increase opportunities towards 1.4345 and 1.4256 resistance level.
Conversely if the decline continues, the price of open opportunities to the 1.4058 level.
Prices shown on the graph H1 line MA05 and MA10 strong bullish conditions.
While the Stochastic indicator indicates there are still bullish opportunities are limited.