EUR/USD Forex Signal Forecast

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EUR/USD weekly forex signal outlook.Clear strengthening of the dollar in the rapidly weakening of the euro led to a big drop in steam EUR / USD at the end of last week

(I-Newswire) January 18, 2010 - For most of last week on the markets of the main pair watched weakening U.S. dollar and thus continued a correction has been launched at the end of 2009. As we mentioned in our forecasts for 2010, now viewed the weakening U.S. currency can be completed in the first weeks of this year. and then we should see another, medium-wave growth. Perhaps the signal wave is a movement that watched the last session the past week. The first confirmation of such a scenario would be important to overcome the resistance plotted on USD Index, which tested at the end of the session Friday.
Clear strengthening of the dollar in the rapidly weakening of the euro led to a big drop in steam EUR / USD at the end of last week, and the scale and dynamics of this movement may suggest that the adjustment of the ongoing trend for the pair since December 22, could no longer be fulfilled.

Cycle occurring in the EUR / USD is now in the downward phase. Thus, the end of the correction would imply a return to at least medium-term declines in the 1.3650 area, where the two waves would be equal to down. Confirmation of such a variant derived from the graph of the EUR / USD 1.43 would overcome neighborhoods where there are major, presented the second of the above chart support. However, looking at factors correlated with short-term cycles, it appears that the first test of this support will have a clear reflection, and after such a reflection of the euro against the dollar weakness will continue. Such reflection should appear in the coming week.

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January 18, 2010

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