Daily Technical Analysis and Recommendations - 15-02-2006
EUR/USD
Technical Analysis: The Euro tested yesterday the fibo 23.6% at 1.1863 and rebounded to the resistance point at 1.1930 and that indicates that investors are holding back and are expecting a big move to either direction despite the fact that the economic news that were released yesterday were good for the Dollar but the Dollar/Yen effect was affecting most Dollar pairs. It is expected to try to break the resistance point at 1.1930 and touch the upper wall of the falling channel (orange) but this scenario has little chance since Fed. Chairman Mr. Bernanke would speak at 15:00GMT and that could send the Euro to break the fibo 23.6% and try to test the 1.1800 level. Also, the Euro will be affected today by the release of US Import Price m/m at 13:30 GMT. Please be careful in today's trading.
Recommendation
Sell @ 1.1933
Stop @ 1.1987
Traget - 1 @ 1.1908
Traget - 2 @ 1.1895
Traget - 3 @ 1.1871
Buy @ 1.1809
Stop @ 1.1769
Traget - 1 @ 1.1827
Traget - 2 @ 1.1848
Traget - 3 @ 1.1869
Good luck in your trading
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Regards,
N4X