HighSky (HighSky)
Currencies  |  August 08, 2012 11:12:39

S & P500 seems to have a turn, then what EURUSD?


The main currency pair EURUSD has maintained its growth trend in the last hours of trading retreated from its overbought levels and depends on the further side of the trend. This could be helped to further lunge upwards, which outlined the main resistant line is now at 1.2441. Tabor short traders on the main currency pair in the last two days not neztenčuje, which could help find new euro currency higher. The main technical objective of EURUSD is placed on the 1274, which is still quite a long distance, about 300 points. However, we note that at least the first corrective phase may have met when we found a new peak in the formation of Zig-Zag (a, b, c).

EURUSD, daily comment

But there is a great exclamation point to this growth scenario would be to delay or completely refute, that divergence between price and oscillators, which is distinct both EURUSD and especially for equity markets. S & P500 index in the last quarter of portraying the classic triple formation Zig-Zag, but from July, reversing the trend begins to form and price oscillator, which would send prices lower again.

EURUSD, daily comment

The most likely scenario as we have seen in recent developments in that market and then the EURUSD will soon turn below, or go in the side trend, the stock market could lose more than EURUSD. EURUSD would then have to climb to new highs (see the goals outlined above), the stock markets while reaching new heights no longer have.What is the reality in the coming days and weeks we will see

Joseph Kvarda, Analyst

HighSky Brokers

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S&P500 již vypadá na otočku, co pak EURUSD?

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