EUR-USD Technical Analysis - 27 April 2010

I have to take this time to reanalyze the unexpected situation regarding EUR-USD technical analysis as per last week. Starting from yesterday and today the pair refuse to make upward swing to the middle or upper of the Bollinger Band in daily time frame. This leads to the Stochastic in weekly time frame to twist back downward to synchronize with the MACD downward direction.

In this case, there could significant focal point where the euro-dollar is making the big continuation towards downtrend. We will see by the movement of candlestick today, if it is goes down the next day could follow the same direction.

This has something to do with the European zone financial crisis particular Greek whose economy now in big trouble due to uncontrollable budget deficit. The market sentiment respond to this situation accordingly, but if there is intervention by the Greek's government or financial aids from other members of the European Union the market should favor temporary upward direction.

Weekly Stochastic is making a twist downward to synchronize with the MACD movement. This is a strong signal that the EUR-USD is on its way to continue the long-term bearish trend.


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