USD is about to hit the EUR

06-02-2012

USD INDEX

The USD index which measures the USD strength against other major currencies ended its correction at the rate of 78.8. The technical reasons for that assume; the support level of 100 EMA, and 38.2% of Fibonacci scale, which exist at the point of 78.8. We expect to see the index increase upward as a part of its long term trend.

Resistance & Support (daily)

S3	S2	S1	Pivot Point	R1	R2	R3
78.5	78.8	79.1	79.3	79.5	80	80.25

EUR/USD

As a direct consequence from the dollar index, the EUR/USD is about to fall significantly. Indeed, in the EUR there are even stronger resistance levels which can push down the pair. One of them we mentioned last Friday - about the fifth wave of the Elliott Theory which began falling around the current rate.

Resistance & Support (daily)

S3	S2	S1	Pivot Point	R1	R2	R3
1.30	1.304	1.308	1.313	1.318	1.322	1.325

EUR/GBP

The EUR met the British Pound in a strong period, which pushes the pair down step by step. The tight negative trend line and 200 EMA indicate this direction, as well as the RSI indicator.

Resistance & Support (daily)

S3	S2	S1	Pivot Point	R1	R2	R3
0.822	0.825	0.8275	0.8310	0.833	0.8345	0.836

Technical Support Levels Halt Declines 21-05-2012

EUR/USD Last Friday The Euro ascended against the Dollar by 0.65%, opposite the declining trend which characterized the currency of late. The technical reason for the increase is due to the 1.2630 support level which the pair reached on Thursday. Also, the RSI pointed to “overselling”, which prevented further declines. The major [...]

The Dollar Continues to Strengthen Due to Market Concern 18-05-2012

EUR/USD The Euro is trading at a 1.2650 level after falling significantly over the last several days. This trend is not only a result of a weak Euro, but an appreciating greenback, which is gaining ground against all major currencies. This rise is due mainly because the Dollar and the Japanese Yen benefit when there is a market crisis. [...]

The Technical Resistance Level Marks the Trend 17-05-2012

USD/CAD After an extensive declining trend, supported by the declining trend line, the USD/CAD pair broke the line upwards, signaling a new rising trend. In Addition, the pair broke resistance of a 200 roaming average at 1.0000. The Dollar reached 1.0130 yesterday and it appears that the trend will continue in the short term. Resistance [...]

The Euro Continues to Slump 16-05-2012

EUR/CAD Yesterday, the pair EUR/CAD broke its support of 1.2850 and declined to an 18 month low. This decline joins the depreciation of the Euro against other major currencies, with the greenback and loonie benefiting from this situation. This negative trend will likely continue as long as investors show concern towards the financial and [...]

Price of Goods Pushes Aussie Down 15-05-2012

AUD/USD Yesterday the pair crossed the price point of 1.0000 after the Aussie fell 0.5% against the greenback. There is no significance to 1.0000 in this case, aside from the symbolic. The declining trend was determined previously after the pair shed 5% in only two weeks of trading. Another factor that is worth mentioning is the general [...]

Technical Correction for the Dollar? 14-05-2012

USD/JPY The pair USD/JPY declined sharply in the framework of a deep technical correction, reaching a low of 79.55. According to several technical indicators, it appears that the correction has concluded and we can expect the pair to rise. Indicator 1: The pair finished two trading days last week over the support level of 200 EMA, at [...]

The Dollar Continue to Strengthen Against Most Currencies 10-05-2012

AUD/USD The Aussie continues to break negative records and yesterday was once again on the decline by half a percentage point to 1.0020. Over the last several days, the Australian dollar has lost around 400 pips and since the beginning of this negative trend, has lost 700 pips. It seems that this trend is far from over and continued [...]

Trading Opened With Declines 09-05-2012

GOLD Until the last several days, gold trading was mixed, leaning towards small declines. The $1650 per ounce level was used as a primary pivot, which the buyers and sellers returned to often after struggling. Yesterday, this level was greatly surpassed after traders aggressively offloaded assets. This direction caused gold to fall [...]

Euro Continues to Trader Negatively 08-05-2012

EUR/JPY The Euro is trending negatively after forming a Triple Top pattern on the graph. Unless there is a breakthrough, this pattern is a strong indicator of decline. It appears that the negative trend will continue as long as the pair is below the negative trend line. Resistance andamp; Support (daily) S3 S2 S1 [...]

The Euro Declines 07-05-2012

EUR/USD The Euro has experienced negative trading recently, with the trend line pushing the pair in a downward direction. However, the pair received support each time it reached 1.3030 and rose back to the trend line. This has resulted in a descending triangle. Due to the elections in Europe and the negative momentum of the Euro, it [...]

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