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FOREX: TECHNICAL ANALYSIS 09/03/12

04.09.2012

Pair EUR/USD

News background:

Pair had a good, yet limited support because of the speech of the head of ECB M. Draghi and their willingness to buy debt securities from the weak, in economic terms, eurozone countries. Additional stimulus was the decline in yields on Spanish and Italian debt securities.

Technical picture:

From a technical point of view, the couple tries to stay above 1.2600, it is possible that it would grow to the level of 1.2650, but its likely to be limited, so it is expected that the beginning of redemption of debt securities to increase the money supply, and also possible 'Going by 0.25% benchmark interest rate. The pair is in the upper Bollinger and above MA 5 and MA 21.

Oscillator Stoch. points to the possibility of local spread. RSI indicator gives a signal to turn the pair down.

Trading recommendations. Sell a couple of short-term, if it crosses the level of 1.2573 to 1.2500 from.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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