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EUR/USD Technical Analysis For May 28, 2012

Click Here To Watch Video EUR/USD Daily Technical Analysis For Monday, May 28, 2012
EUR/USD Daily Technical Analysis For Monday, May 28, 2012
Video Running Time:00:06:23
By: Marvin P.

Monday, May 28, 2012

Although US markets were closed for today & we had lower than usual volume, the EUR/USD pair still managed to move within a 100 pip range due exclusively to changing headlines coming out of Europe about the recapitalization of the Spanish bank, Bankia, and the latest survey polls for the upcoming Greek election on June 17th.

In today's technical analysis video, we will briefly explain the price action in the EUR/USD pair and identify common areas of support & resistance for potential trade entries.


forex trading webinar on May 22, 2012

Click Here To Watch Video Live Webinar From Tuesday, May 22, 2012
Live Webinar From Tuesday, May 22, 2012
By: Melvin P.

Tuesday, May 22, 2012

For the past two trading days, the EUR/USD pair had been in a mild recovery rally, over hopes that Euro zone leaders will move more closely towards stimulating growth, rather than pushing austerity. However, as for today, the pair had found resistance at 1.2820 and price is now falling due to euro weakness, as it pares some of its gains from yesterday. The instrument had fallen about 82 pips to support at 1.2740, and now price appears to want to retest the recent highs after the Existing Home Sales numbers were reported to come in at expectation, up 3.4% from April to an annual rate of 4.62 million. The market could be interpreting this modest increase in home sales, as a sign that the US Housing Market is starting to turn around.

At tomorrow's EU Summit, EU policymakers will be discussing whether a common Eurobond is necessary for the monetary union. France's president Hollande vows to push for the creation of Eurobonds as he believes Eurozone debt should be mutually distributed & shared among the 17-nation bloc, as a solution to the sovereign debt crisis. Germany, Netherlands, & Finland are strongly against this action. This conflict has downplayed any hopes of a concrete plan or solution to come out of tomorrow's EU summit.

We also heard news that the OECD, Organization For Economic Cooperation & Development, had slashed its growth forecast for the entire Eurozone, and they are encouraging the ECB to adopt a more looseraccomodative monetary policy.


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