EUR/USD

This week the central bankers decided the shake up the forex market. First Ben Bernanke, then JC Trichet talked the dollar up and down. The dealers are probably scratching their heads and wondering which way to move the market in the next few weeks. Tomorrow’s NFP report will give them a clue. Technically speaking, today EUR/USD bounced off the support @ 1.5365. Below is the pivotal 1.5280 which if broken could lead to more dollar strength. Today’s 2 big figures rally will find resistance near 1.5630, then 1.5680 and 1.5812.

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This entry was posted on June 05th, 2008 and is filed under 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.