A new week had the Euro upward this week, closing at 1.2714 compared with 1.2691 the previous week's close.
As last week we did not dare to say where it might go to the market, this week we keep the same uncertainty, amounting to not know what is affecting the market FOREX EUR / USD. Great news
and were negative during the week, which would shake up the market earlier today was only small shocks to keep the same prices.
Fundamental Analysis
While news delivered this week to finish have been disastrous with a reduction in employment in the United States in more than 533,000 jobs (scoring records), in areas declared recession in Europe and the United States, with Germany being the engine of the Eurozone, with a reduction in industrial production the order of 6.1% and the FOREX Market EUR / USD was not affected too much. addition, products that previously were so correlated as Oil, which closed during the week closing a little over $ 40.44 weekly scoring a low 20% and the market FOREX EUR / USD did not show great variation.
Apparently the market is convinced that the Euro price is 1.2700 and news not affecting the price ... or is so strong and true that all the negative news has included in it.
For fundamental analysis we remain uncertain and prefer not to take a position on it. What I recommend is that there be very careful because when the price begins to trend it will take a consideration.
long term, we maintain our forecast of a stronger dollar against the Euro.
Technical Analysis
Our technical analysis differs from fundamental analysis, noting the one hand an imminent confrontation with mainstream line which should define the future of the Euro price trend. If clearly breaks should start an upward cycle, if it bounces should go down hard.
Our technical oscillators have positive slope which is a sign that the price should be rising, but we can see that the price, although it has risen, it has not been with the force we are accustomed, on the other hand, This slight rise just with the ability to detect a difference ...
For technical analysis have a slight signal increase in the price of the Euro in the market, however not significant. The following figure shows our-planting:
In conclusion by fundamental analysis can not get a clear signal the euro price direction and technical analysis can determine a mild recommendation that the market should go higher, but we believe that it is not worth the risk, and perhaps is advisable to keep on the lookout and wait for the imminent Euro clash with mainstream line.
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