Euro in trouble as U.S. dollar continues to gain strengt

fundamental

The budget crisis gripping Greece and depressing Europe’s single currency is proving a boon for the region’s exporters. The country’s struggle to cut its deficit has pushed the euro to a fifth weekly decline versus the dollar, the longest streak in more than a year. The currency has fallen 5.1 percent against the dollar this year on concern nations with the biggest debt burdens will struggle to meet their obligations. Greece’s borrowing costs have soared compared with those of Germany, and coupled with slow growth, that surge may hurt efforts to reduce the deficit.

Technical

Technical analysis shows us the euro may continue its downtrend against U.S. dollar as MACD gives us a bearish signal. RSI is in a downtrend. Bollinger gives us a bearish signal by closing the candle below the middle band.

ong signal	Short signal
	Buy a break of resistance level at 1.3700	Sell a break of support level at 1.3530
EUR/USD	Buy a break of resistance level at 1.3800	Sell a break of support level at 1.3490
	Buy a bounce at 1.3530	Sell a failure of breaking the resistance 1.3700