EUR/USD Analysis

Preface: The following analysis is a personal view point of the market and does not constitute to any trading advice or ideas. The prices of the asset talked about may well have moved by the time the post is public and so   trading can lead to losses. It is not my responsibilities for any losses incurred by yourself.

Analysis


- EUR/USD has been moving down for a while. More recently it will be due to the uncertainty in the Eurozone; very low confidence, exposed debt to Portugal, Ireland, Greece and Spain; Germany also.

- Itlay bond yields currently at about 7%- very risky for investors and they are at risk of needing bail out.

- Looking at 4hr chart: Past 2 days: 1.3233 level held before breaking and moving lower today- Short selling taking place with a short bias.

- Fibonacci level: currently trading below 88.6 re-tracement at about 1.3265. If closed near 88.6, strategy to potentially have a sell at about 1.32720.

- However, note there is previous support at 1.3240 and the price could be at an exhaustion point considering.

- 1hour chart: showing some re-tracement toward the 88.6 level and testing. Lets observe and see what price does.

Thanks for reading. Please leave any comments below and also your own opinions.