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EUR/USD Technical Analysis April  11, 2012

Click Here To Watch Video EUR/USD Daily Technical Analysis For Wednesday, April 11, 2012
EUR/USD Daily Technical Analysis For Wednesday, April 11, 2012
Video Running Time:00:05:16
By: Marvin P.

Wednesday, April 11, 2012

During today's trading session, the EUR/USD pair had extended its correction to the upside and rallied 90 pips from the session low at 1.3067 to the session high at 1.3157, which is a common resistance level. In today's technical analysis review, 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 April 12, 2012

Click Here To Watch Video Live Webinar From Thursday, April 12, 2012
Live Webinar From Thursday, April 12, 2012
By: Melvin P.

Thursday, April 12, 2012

Despite the low levels of trading volume and participation in the market, the EUR/USD pair has still managed to push higher over the last 2 days, primarily due to US dollar weakness. For today, the pair had rallied about 82 pips from the session low at 1.3102 to the session high of 1.3184, despite the growing concerns over higher borrowing costs for Italian & Spanish 10-Yr debt. There was news that Chinese & Middle Eastern sovereign accounts were helping to prop the euro and push the currency pair past the 1.3155 barrier in an attempt to take out stop orders and offers at that level.

However, the gains in the EUR/USD pair could have been a result of the market's expectation of another round of quantitative easing due to the poor employment numbers that have been coming out of the US. Initial jobless claims rose to 380,000 new applicants for last week and when you also consider last Friday's poor Non-Farm Payroll numbers, that may signal the start of a potential weakening or slowdown in the US economic recovery. What we are seeing in the EUR/USD is not the result of euro strength, but dollar weakness as the threat of QE(quantitative easing) measures become more apparent.


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