EURUSD 01.02.10-05.02.10
GBPUSD . EURJPY . USDCHF . Economic Calendar for the week
Unbelievable, in my opinion, the fall of the euro against the U.S. dollar continues. It is likely that the problems of Greece also add excessive fiscal deficits of Spain, and high unemployment . This fact led investors to question the sustainability of the European currency. In addition, Friday's sudden fall was prompted by the publication of data on growth of GDP the U.S., the value of which exceeded analysts' expectations by 1.5%.
From a technical point of view, the past week gave us a breakthrough in peer support Fibonacci 38.2% from last year's growth. Besides, was overcome psychological support 1.4000. Friday session closed with the price of 1.3860. The next level of support is at 1.3800 marks - 50% from last year's growth. Judging by that eight months ago, the price has strongly supported the euro, which it subsequently pushed off and reached a maximum of 1.5140, it is possible that this time in this zone, the euro / dollar will get strong support. Based on the fact that the fall last week was sufficiently aggressive, as evidenced by the absence of the traditional Friday correction, we assume that the sample 1.3800, the price falls to 1.3650 - 100% Fibonacci extension (green FE). Break of 1.3800 of support can be considered valid if the price drops to 1.3750 marks, and hold out below 1.3800 during one day.
Recommendations:
- Selling to 1.3800, 1.3950 limit losses.
- Buy from 1.3800 to 1.4100, limiting losses 1.3740
- If, after penetration of 1.3800 from 1.3750 alienate price and will meet resistance at 1.3800, then sell to 1.3645 and 1.3470. Limiting losses 1.3820.
