Gecko Global Analytics

van Gecko 12:00 GMT August 29, 2011
Trade Talk - Forex Weathermap - EURUSD: Reply
With Q3 coming to an end, Dollar/CHF taking the lead in tandem with EUR/CHF while Euro's stairway to 7th Heaven, or Q4 "Quantitative Easy Slide" fate from here rest with EUR/GBP & GBP..
fwiwW..
Euro @1.45

GVI Forex Jay 11:20 GMT August 29, 2011
Trade Talk - Forex Weathermap - EURUSD:
11:15 GMT (Global-View) Aug 29 - EURUSD appears it will break the 10 day pattern around 1.44, which is bullish but only a solid 1.45+ would suggest the risk of a shift into an uptrend. For this to occur, 1.4536 would need to be firmly broken. This follows a solid break of the "triangle top" at 1.4483 that paused just below 1.4550 (high 1.4549) and the upper Bollinger Band, which has contained the upside since the beginning of May. The eurusd has since retreated to trade around 1.45, which will set the tone going forwards.

This comes in a market where the euro has firmed despite a steady diet of negative news. It is not clear what has been behind the firmer euro, fundamental dollar weakness, an invisible hand that continues to keep it supported, various crosses, such as the sharp rebound in eurchf or a combination of these forces. Whatever the case, it has been confounding, especially to the chorus of calls for lower levels. Note eurchf extending high above 1.18, which is currrntly Keeping a bid under eurusd.

Labels: Euro