Weekly Forex Signals
Long-term objectives could see Euro rise against USD
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LONG SIGNAL |
SHORT SIGNAL |
| EUR/USD |
- Buy a break of resistance level at 1.5065
- Buy a break of resistance level at 1.5270
- Buy a bounce at 1.4940
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- Sell a break of support level at 1.4940
- Sell a break of support level at 1.4890
- Sell a failure of breaking the resistance 1.5065
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Fundamental
The euro rose for a second day against the dollar as signs the global economy is recovering boosted demand for higher-yielding assets.The euro gained against 12 of its 16 most-active counterparts as Japan’s gross domestic product expanded for a second-consecutive quarter. The dollar fell against 14 major currencies after Asia-Pacific leaders pledged to maintain stimulus measures until there’s “durable” growth.
Technical
Technical analysis shows us the euro may continue its uptrend against U.S. dollar as MACD show us a divergences. RSI is in an uptrend. Bollinger gives us a bullish signal by closing the candle above the middle line.
Trends
Primary Tendency (Daily Chart): The primary tendency shows us a clear uptrend.
Secondary Tendency (Four Hour Chart): The pair fails to make a higher high.
Minor Tendency (Hourly Chart): The Minor trend trying to break 1.5000.
Resistance
1.5065
1.5270
Support
1.4940
1.4890
Technical Indicators
Crossing of two moving averages and closing price of the candle is above the short-term moving averages.
MACD shows us divergences.
RSI (Relative Strength Index) in a clear uptrend.
Bollinger Bands gives us a bullish signal after closing the candle above the middle band.
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Disclaimer: FINOTEC Trading's Market Commentaries are provided for informational purposes only. The information contained within these reports is gathered from reputable news sources and not intended as investment advice. FINOTEC Trading assumes no responsibility or liability from gains or losses incurred by the information herein.
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