EUR/USD

EUR/USD broke both boundaries of the ascending triangle and closed within the pattern. This means that the market is very volatile and neither bulls nor the bears are winning. Some interesting developments could be noticed these days. Interest rate markets are starting to discount the end of the FED’s rate cuts cycle. This could be very important for determining of the forex market direction. If the FED cut the rates for the last time during their next meeting EUR/USD could break lower. Watch the support @ 1.5670 and 1.5510.

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This entry was posted on April 20th, 2008 and is filed under Fundamental Analysis, Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or Trackback from your own site.