Euro/Dollar – Risk of further weakness continues to build up following a second week of losses the past week. Its continued weakness is coming on the heels of a loss of upside momentum at the 1.4938 level in early May’2011. Guest post by www.fxtechstrategy.com On further weakness, EUR will target the 1.4061 level, its April 01’2011 low at first with a decisive penetration of that level calling for more weakness towards the 1.4020 level, its mar 28’2011 low. Below the level will expose the 1.3852 level, its Mar 15’2011 low. Its weekly RSI is bearish and pointing suggesting further weakness. On the other hand, for the pair to reverse its present weakness, it will have to return into its broken channel and then above the 1.4938 level. This will trigger the resumption of its long term uptrend towards the 1.5140 level, its 2009 high. All in all, having lost upside momentum and continues to sell off, further weakness is expected in the new week. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next IMF Chief Arrest Adds Pressure on Euro Yohay Elam 12 years Euro/Dollar - Risk of further weakness continues to build up following a second week of losses the past week. Its continued weakness is coming on the heels of a loss of upside momentum at the 1.4938 level in early May'2011. Guest post by www.fxtechstrategy.com On further weakness, EUR will target the 1.4061 level, its April 01'2011 low at first with a decisive penetration of that level calling for more weakness towards the 1.4020 level, its mar 28'2011 low. Below the level will expose the 1.3852 level, its Mar 15'2011 low. Its weekly RSI is bearish and pointing suggesting further weakness.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
