29 Sept 2014 EUR/USD Analysis


EURUSD, EUR/USD, Euro, Technical Analysis, Forex, Trading Euro trades below 1.274 against the U.S dollar, last seen in November 2012

EURUSD, EUR/USD, Euro, Technical Analysis, Forex, Trading The Dollar’s strength plus the uncertainty in the Euro’s stimulus sees the pair fall to the lowest in 22 months

EURUSD, EUR/USD, Euro, Technical Analysis, Forex, Trading Support by Fibonacci Extension level at 1.2442

Catalonia signed its initiation to issue a referendum on independence from Spain, which Madrid is sure to fiercely contest, on the 27th of September. Catalonia accounts for one-fifth of the economy of Spain and many citizens are keen to go ahead with the votes for possible secession. The Euro is likely to respond in kind not unlike the Scottish Referendum just 2 weeks ago where the United Kingdom was in danger of splitting after 300 years.

Central bank’s divergence in policy also weighs against the Euro as the Fed ponders is next move before September’s job reports, while the ECB weighs its options before deciding on its monetary policy to decrease unemployment and raise inflation in the Eurozone.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish 1.251 1.256 1.2664 1.274 1.278 1.283

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