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EUR/USD Technical Analysis February 27, 2012

Click Here To Watch Video EUR/USD Daily Technical Analysis For Monday, February 27, 2012
EUR/USD Daily Technical Analysis For Monday, February 27, 2012
Video Running Time:00:06:21
By: Marvin P.

Monday, February, 27, 2012

In today's video, we discuss the price action for the EUR/USD pair and the reasons for the bearish market sentiment during most of the trading day. Although we saw US dollar strength throughout today's trading session, this bearish move was really the result of profit taking ahead of Wednesday's LTRO operation from the ECB. The pair slid ~ 113 pips from the session high at 1.3480 and it found support at 1.3366. The EUR/USD pair is currently in consolidation ahead of the Asian Open.

In today's technical analysis video, we will identify various trade entries around support & resistance levels.


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forex trading webinar - February 23, 2012

Click Here To Watch Video Live Webinar From Thursday, February 23, 2012
Live Webinar From Thursday, February 23, 2012
By: Melvin P.

Thursday, February 23, 2012

Although Eurozone Ministers had approved the 130 billion Euro bailout package and came to an agreement on the Greek PSI (Private Sector Involvement), we surprisingly saw light trading volume and tight range-bound trading in the EUR/USD pair ahead of today's trading session. This consolidation is an indicator of the uncertainty and lack of conviction in the market over whether Greece will be able to fully implement their austerity measures before their March deadline. However, during today's Asian trading session, the pair broke out of it's 74 pip trading range and began to rally up to resistance at 1.3340. It was at this price where risk sentiment changed to the downside due to news coming out that the Eurozone had downgraded or lowered their growth forecasts to -0.3% for 2012, compared to the prior 0.5% growth forecast the region had previously submitted for 2012. This caused the EUR/USD pair to slide past the 1.3300 psychological support, and the same trend for euro weakness was seen across multiple euro crosses.


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