Thread: EUR/USD Intra-day signal by AceTrader

INTRA-DAY EUR/USD OUTLOOK

Last Update At 20 Dec 2010 06:09 GMT

Rate : 1.3160

Despite euro's resumption of last week's fall to
1.3125 in Asian morning, subsequent rebound to 1.31
60 suggests early decline fm 1.3500 (Tue) has possi
bly made a minor low n sideways trading is seen,
however, reckon res at 1.3186/90 wud cap upside.

For st trade, hold long for 1.3170 n sell on fur
ther rise for day trade. Below 1.3125, 1.3100/05.

Range Forecast
1.3145 / 1.3170

Resistance/Support
R: 1.3186/1.3207/1.3243
S: 1.3125/1.3102/1.3060

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In future, there is only one direction in which the US dollar is headed and that is down. With a weak US economy and deep structural problems the only politically correct way out for the Federal Reserve and the local government is to print more dollars and hence reinforce the downward trend.