ECB President Draghi Speaks – 16 Jan 2012 Euro/Dollar THV 4 Analyze

Posted by admin | Posted in Long Forex Trades | Posted on 16-01-2012

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As always in Monday you can see 4 Hours Chart and Hourly Charts in Weekly Forex Analyze topic.

15 Minute Chart:

Already neutral trend. RSI is going up and it looks like Euro is getting some food. At this moment RSI is at 75 and still climbing. Trixes are crossed and both are green. But they are very close to each other.

5 Minute Chart:

As well neutral trend. But RSI is going down after almost entering into overbought zone. At this moment it is at 50. Trixes are both red and crossed. Both of them are facing down.

Fibonacci Pivot Line is at 1,27254 and we have open very low below it at 1,26330. But since opening we are slowly going up.

Support Lines:
1,26770
1,26286
1,25989
1,25691
1,25207
1,24723

Resistance Lines:
1,27749
1,28233
1,28530
1,28827
1,29312
1,29796

Plan:
Well i think that only few people believe that Euro can go up. This is hard time for Euro. Standard and Poor have decreased credit rating for many European countries. But biggest surprise is lowering France rating. Everyone believed that France is strong financial country but it looks like it is not so strong after all.

Forex News:
Not much will happen today. USA have bank holiday and most important news will be ECB President Draghi Speaks. What will he tell only god knows and few nearest friends.

We will not trade between this times:
7:30 – 8:30
18:30 – 19:30

8:00EUR
German WPI m/m
0.0%
0.3%
0.7%
All DayUSD
Bank Holiday
19:00EUR
ECB President Draghi Speaks
<a href="http://instaforex.com/?x=CFNM">InstaForex</a>

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