25 Sep 2013
EUR/USD 1.3470 gravity reigns; below EMA20 with 1.3440 stops
FXstreet.com (Chicago) - EUR/USD advanced against the greenback at Tokyo’s opening but was capped by 1.3475 limits to retrace minimally close to 1.3470 zone.
Stops loss buyers are announced at 1.3525 while stop loss sellers are found below 1.3440. Price action reveals a gradual decline that seems stopped as parallel movement continues for the past couple of hours. Offered at 1.3473, the pair oscillates between supports aligned at 1.3450 (August 19th highs), 1.3413 (August 26th highs) ahead of 1.3372 (August 16th highs) and the resistances set at 1.3509 (September 19th lows), 1.3563 (September 18th highs) followed by 1.36 (February 1st highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and trades below the EMA20.
Market participants wait for housing market data and durable goods orders in the US while Europe is to release German, Italian, Spanish and French data.
Stops loss buyers are announced at 1.3525 while stop loss sellers are found below 1.3440. Price action reveals a gradual decline that seems stopped as parallel movement continues for the past couple of hours. Offered at 1.3473, the pair oscillates between supports aligned at 1.3450 (August 19th highs), 1.3413 (August 26th highs) ahead of 1.3372 (August 16th highs) and the resistances set at 1.3509 (September 19th lows), 1.3563 (September 18th highs) followed by 1.36 (February 1st highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and trades below the EMA20.
Market participants wait for housing market data and durable goods orders in the US while Europe is to release German, Italian, Spanish and French data.