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Wednesday 28 September 2011

EUR / USD Rising : 1.3690 Reached During the European Session

The EUR / USD fell 1.3690 weekly highs, but managed to hold above 1.3600 and after Wall Street opened higher and above 1.3630 gathered resumed. The euro is now hovering around 1.3635/40, 0.40% above today's opening price, the benefit was a fourth consecutive day.

"EUR / USD 1.3690 reached during the European session today as optimism prevails, in addition to the Finnish Parliament approved the extension of the powers of the rescue fund the euro area (EFSF), however, from a technical perspective, the euro was unable to maintain gains and is now closer to the 1.3600 area, with indicators of less hours a little more half-lines, "said Valeria Bednarik, analyst at FXstreet. com. According to his just below 1.3600, the bearish potential may increase.


"We have outbreaks of head on the hourly chart and what we can imagine a test of recent highs in the middle, but we can too easily imagine that the collapse in the euro to test the latest low of 1. 3360, which came just two days ago, "says Barbara Rockefeller of Rockefeller Treasury Services Inc. She says the use of a linear regression channel as a guide, you can see the euro hit 1.3100 on Friday, about noon of America." The linear channel has serious limitations as a guide, but no matter, if the market jumps that way, the channel offers the worst case and these are not times to be ignoring the worst-case scenario. "

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