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EUR/USD Technical Analysis For May 30, 2012

Click Here To Watch Video EUR/USD Daily Technical Analysis For Wednesday, May 30, 2012
EUR/USD Daily Technical Analysis For Wednesday, May 30, 2012
Video Running Time:00:04:41
By: Marvin P.

Wednesday, May 30, 2012

Risk aversion was in high gear for the EUR/USD currency pair as investors began to pile into the greenback on deepening concerns coming out of the Eurozone. Throughout most of the trading session, negative headlines continued to weigh on the common currency and the pair had fallen 143 pips from the session high of 1.2505 down to the session low of 1.2362, where price found support.

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 29, 2012

Click Here To Watch Video Live Webinar From Tuesday, May 29, 2012
Live Webinar From Tuesday, May 29, 2012
By: Melvin P.

Tuesday, May 29, 2012

Headlines coming out of Europe are continuing to drive the market as news about the recapitalization of Bankia, the 4th largest bank in Spain, briefly restored confidence to investors and we began to see the Euro strengthen on hopes of a Spanish bailout. A couple of months ago, analysts were saying that Spain was too big to bail, since it is the 4th largest economy in the Eurozone. But, right now, it appears that a bailout package could still be manageable, despite the continual losses from bad real estate investments, magnified by massive unemployment and the effects of recession. However, despite the agreement to recapitalize their banks with 19 billion euro, we are still seeing capital withdrawn from Spanish Banks at record levels on fears that a Lehman-like crisis is on the verge of unfolding for the sovereign. The likelihood of a Greece exit from the Eurozone is highlighting the prospect of Spain's inability to handle bank losses, in the case of contagion. This uncertainty has caused stocks to tumble and the EUR/USD is now trading flat for the day.

In today's V.I.P. webinar, we discussed the current price behavior in the EUR/USD pair and looked for opportunities to place a live trade using the Slumdog Forex trading system.


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