Last Update At
.png "Spot EURUSD")
15 January 2013 01:49GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
1.3367
55 HR EMA
1.3217
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
60
14 HR DMI
+ve
Daily Analysis
Consolidation before marginal rise
Resistance
1.3486 - February 29 high
1.3430 - Equality projection of 1.2876-1.3308 fm 1.2998
1.3404 - Yesterday's high
Support
1 .3336 - Yesterday's low
1.3308 - Decembers 19 high, now support
1.3280 - Last Friday's Australian high, now sup
port
- EUR/USD - 1.3352 ... The single currency went through a "roller-coaster" session yesterday. Despite rising to fresh 10-month high at 1.3404 in Asia, profit- taking knocked price to a low of 1.3336 in the NY morning before rising again to 1.3395 after relatively dovish comments fm Fed's Bernanke near NY close.
- Looking at the hourly chart, the euro's rebound after finding renewed buying at 1.3336 suggests the pullback has "possibly" ended, however, a breach of said res is needed to confirm MT uptrend fm 2012 Jul's low of 1.2042 to retrace LT intermediate decline from 1.4940 has once again resumed for further gain to 1.3430 /34 (equality measurement of 1.2876-1.3308 from 1.2998. The 61.8% projection of 1.32 49-1.3404 from 1.3336) but as hourly oscillators would display prominent "bearish divergences" on such move, a strong gain above there is unlikely to be repeated. The previous daily chart resistance at 1.3486 (February 29 high) should cap upside.
- Today, buying the euro on dips is still favoured in anticipation of one more rise but traders should pay attention to the release of German CPI n GDP at 07:00GMT n 08:00GMT respectively. Below 1.3336 wud risk 1.3308 n 1.3280.