Thursday, June 16, 2011

EUR/USD Technical Analysis Outlook - Falls Continue On Crisis Complications

Further levels in both directions: Below 1.4030, 1.3950, 1.3860, 1.3750, 1.3440.
  • Above: 1.4160, 1.4282, 1.4375, 1.4450, 1.4550 and 1.4650.
  • Critical support is at 1.4030 above the round number of 1.40. Another strong line is 1.3950.
  • 1.4160 now turns into resistance.
Euro/Dollar free falling -
EUR/USD Fundamentals
  • 9:00 European CPI. Exp. 2.7%. Actual 2.7%. Core exp. 1.6%. Actual, only 1.5%. No second round effects?
  • 9:00 European Employment Change. Exp. +0.2%.
  • 12:30 US Unemployment Claims. Exp. 421K.
  • 12:20 US Building Permits. Exp. 550K.
  • 12:30 US Housing Starts. Exp. 540K.
  • 12:30 US Current Account. Exp. -126 billion.
  • 14:00 US Philly Fed Manufacturing Index. Exp. 7.1 points. See how to trade this event with EUR/USD.