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Euro USD Forex Analysis

Jason Alan Jankovsky 5 May 2008

EURO/USD Daily

Resistance 3: 1.5600/10
Resistance 2: 1.5550/60
Resistance 1: 1.5500
Latest New York: 1.5453
Support 1: 1.5400/10
Support 2: 1.5350/60
Support 3: 1.5300

Comments

Additional
selling to new low early, Rate clears stops again and attracts active
selling after 1.5400 area falls; bounce sure to happen soon but upside
likely limited to 1.5520/30 area. Look to sell a bounce during the next
48 hours. Strong long-liquidation break is still coming; test of the
lows as expected. Watch for two-way volatility. Be ready to add quickly
if a rally happens; close under the 50 bar MA could attract active
selling.

Data due Tuesday: All times EASTERN (-5 GMT)

4:00am Services PMI (r) 51.8
5:00am PPI m/m 0.6%

Forex
Analysis by Jason Alan Jankovsky at ForexPros.com. For more details
about Forex Trading and Tips for decent earnings through Forex Trading,
Please check http://www.forexpros.com

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Jason Alan Jankovsky