euro men al a2a5er

[hosam ali]

Market over View

Euro

Technical Analysis:
Major trend sideway, resistance 1.2900 1.2985 1.3095, support 1.2800 1.2750 1.2700, Charts
Euro has rebounded after intra-day fall fm 1.2943 to 1.2821, break of 1.2910/15 is needed to signal nr term rise fm 1.2720 (y'day's low) has resumed for re-test of said res, then twds 1.2970. Date 13\feb\2009



Fundamental:

Fri fed. 13
Actual Forecast Previous
9:00am EUR German Prelim GDP -2.1% -1.8% -0.5%
9:45am EUR French Prelim Non-Farm -0.6% -0.5% -0.2%
9:45am EUR French Gov Budget Balance -56.5B -66.6B 11:00am EUR Italian Prelim GDP -1.8% -1.2% -0.6%
12:00pm EUR Flash GDP -1.5% -1.3% -0.2%

Comment:
· The stability of euro interest rate is the main reasons that euro continued its falling.
· In all news such as retail sales and PPI were not promising, and some of Policy makers expected to reduce interest rate to encourage investors to investment to recover economic and stability of the currency.
· The continuation of the American crisis is one of the most important reasons for the steadfastness of the euro against the dollar.
· Trichet said last week that the ECB’s next meeting will be in March, suggesting it may resume cutting rates.
Hassam

Date 13\feb\2009

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