Euro to fall at 1.4279

Economic Alarms

Mixed Performance of Euro zone and Satisfied data from US economy last week has let Euro to take satway Trend, where higher fuel price is a bitter experience for the Global Economic Growth.This week data from Euro would release saying Business conditions are shivering but still expecting for a better future, US got improvement in housing sector which is making greenish in consumer sentiment with good forecast as last Quarter GDP increased and forecast is higher.


Heads n Shoulders.

In weekly chart the clear "Head n Shoulder" would be interesting Trend. Before Euro rise back to 1.5 ish, it would fall to 1.4513 followed by 1.4279.

Taking look in the chart below:

Trend (Satway) with bullish Shadow.

13 days self adjust RSI at Over Sold Area.

Trading Below Pivot 1.4750


R3 = 1.5395 (STRONG)
R2 = 1.4906 (MEDIUM)
R1 = 1.4827 (MEDIUM)

S1 = 1.4673 (STRONG)
S2 = 1.4504 (MEDIUM)
S3 = 1.4279 (MEDIUM)

Opec's jealous for high Oil Prices would Find a support for Euro to not fall. where Supportive US data will keep euro in "Sell" mode for Short Time.

Best Buy "Bet" Observed at 1.4444. the risk observation is 165 pips.

Fundamentals are also considered to confirm the Trend.....

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