Currency Market Analysis
May 3rd, 2010 | 
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The Euro broke the support level at 1.3618 and moved halfway to a greater than 1.3544 (its lowest level yesterday was 1.3572). 1.3653 reached after the European currency has fallen. For this reason, this area is considered the resistance of the day. If the couple demonstrates the strength and resistance break may be the test 1.3737. In case of breaking euro zone will be the next target 1.3810 area. In the short term resistance at 1.3653 and 1.3612 as the pair below, the test of 1.3544 and 1.3491.
Support:
• 1.3612: up trend line.
• 1.3544: 50% Fibonacci level.
• 1.3491: up trend line on February 19.
Strength:
• Max 1.3653 days.
• 1.3737: the decline of 1.3838.
• 1.3810: maximum daily.
Eurodollars
The euro broke the support level at 1.3618 and moved more than half the way to 1.3544 (the lowest level yesterday was 1.3572). 1.3653 reached after the European currency has fallen. For this reason, this area is considered the resistance of the day. If the couple demonstrates the strength and resistance break may be the test 1.3737. And if it breaks euro zone will be the next target at 1.3810 area. In the short term resistance at 1.3653 and if the pair below 1.3612, 1.3544 and 1.3491 for the test.
Support:
• 1.3612: up trend line.
• 1.3544 a 50% Fibonacci level.
• 1.3491: up trend line on February 19.
Strength:
• 1.3653: maximum daily.
• 1.3737: the decline of 1.3838.
• 1.3810: maximum daily.
Dollar Yen
The reversal of the model confirms accelerated yesterday. As It was estimated in the village pair fell 91.55, 90.84 and reached at the time (but not the couple has reached the desired objective of 90.40). The pattern is clear and has a great opportunity for profit taking. However, the level of support available on 90.55. And not to recommend the granting of short positions before the rupture zone. If the couple can fall to 89.90 and 89.22 tests. The level marks the 38.2% Fibonacci resistance level at 91.37 in short term, and if that area is exceeded, the test of 92.31 and 93.08.
Support:
• 90.55: lowest channel upstream.
• 89.90: minimum 15 February.
• 89.22: minimum 10 February.
Strength:
• 91.37: 38.2% Fibonacci level.
• 92.31: Until October 27.
• 93.08: minimum 22 July.
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