Market Analysis

Analysis of the market of divisasEuro-Dollar – To break the 1.34 area will lead to a medium term collapse the Euro paused to only 4 pts over the resistance specified in the report of yesterday, 1.3648, and was strong, breaking the support of 1.3589, and achieved immediate goal successfully proposed of 1,3496. Also it was near the second objective of 1.3442 (the loss of was yesterday of 1,3459). We observe in the graphical associate, who the loss of yesterday was closely together of the line of tendency surpassing slightly 1.3422, in the measurement that could be considered as a third touch of the line. Thus, this line has gained more importance. Generally, when the price pauses and creates a series of bottoms that are so close one of the other (1.3442, 1.3450 and 1.3459 of yesterday), and it provides a line to us of slightly increasing tendency as it is the case, a rupture of this line will be translated in a great movement in the medium term, which is to hope here. A rupture of this line could be in a movement approaching 1.30 in very few weeks. For the short term, the mentioned line provides a support in 1.3465, and if it is broken, we see fall to the Euro to 1.3390 and 1,3299. The resistance is provided by 61.8% of Fibonacci in the short term to 1,3578, and if the Euro is broken is going to take breath, and to jump to 1,3652, and perhaps up to 1.3740.

Support: 1,3465: Line of tendency slightly happening of 1,3422. 1,3390: High of the 13 of April. 1,3299: High of the 24 of April. Resistance: 1,3578: Fibonacci 61.8% for the short term. 1,3652: Level of important resistance in the graphs per hour. 1,3740: Zone of well-known previous resistance. Pound – Dollar – enormous drop, concentrating in the levels in the short term.