EUR/USD

Today market players wil watch and listen carefully to JC Trichet’s press conference @ 12:30 GMT. If he is concerned about the high inflation the euro could find some support. Althoigh, it is widely expected that the focus will be on the risks to growth especially after the rumprs of negative growth in Germany. Stops in EUR/USD are building below 1.5390 which could be tempting tagtet for the hedge funds. Support is @ 1.5390, 1.5345 and 1.5280. Resistance is @ 1.5915, 1.5550 and 1.5610.

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This entry was posted on August 07th, 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.