EUR/USD - Euro Dollar, European Session - 28/04/08

on April 28 2008 2:08 AM

1,5642. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should find a support above 1,5600. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances
1,5670 - 1,5710
Supports
1,5625 - 1,5570

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