🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

EUR/USD Steps Back Just Below 1.34

Published 01/15/2013, 12:54 AM
Updated 01/01/2017, 02:20 AM
EUR/USD
-
EUR/USD Open 1.3375 High 1.3404 Low 1.3330 Close 1.3376

On Monday EUR/USD traded within 70 pip range. The European currency depreciated from 1.3404 to 1.3330 yesterday, not matching the positive money flow sentiment at around +19%, closing the day at 1.3376. This morning the euro is trading quietly, with movements at the lower end of yesterday's range for now.

On the 1-hour chart quotes broke up the trading range, while on the 3-hour chart a wide upward channel has formed. A break above the nearest resistance and yesterday's top at 1.3404 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3330, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3216.

Today's focus is on Germany and Italy CPI and HICP, EU17 Trade balance, US NY Fed Empire State manufacturing index, Retail sales, PPI, Redbook, and Business inventories, at 7, 10, 13:30, 13:55 and 15 GMT respectively.

Quotes are moving above the crossing 20 and 50 EMA on the 1-hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has thinly crossed up the 100 line on the 1-hour chart, giving over all light long signals.

Technical resistance levels: 1.3404 1.3520 1.3644
Technical support levels: 1.3330 1.3216 1.3090
<span class=EUR/USD Chart" title="EUR/USD Chart">

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.