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Technicals

EUR/USD - Euro Dollar, European Session - 08/05/08

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08 May 2008 @ 01:56 am EST
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1,5318. EUR USD broke 1,5365 support. EUR USD is in an downtrend directed by 4H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue on 1,5220 (100 pips) support.
Resistances
1,5365 - 1,5410
Supports
1,5285 - 1,5220

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