30 Oct 2013
EUR/USD muted after EMU data
FXstreet.com (Edinburgh) -The euro remained apathetic after the releases of several confidence/sentiment gauges in the euro area, with the EUR/USD glued to the 1.3760/65 region.
EUR/USD ignored EMU data
Today’s FOMC meeting is undoubtedly the main attraction in the FX space, as demonstrated by the scarce, if any, reaction to fairly decent euro data for the month of October. Consumer Confidence came in in line with expectations while Economic Sentiment and Industrial Confidence surpassed forecasts. No further data are expected in the 17-nation bloc, while the ADP report is next in the US calendar. Prior surveys expect the US private sector to have created 150K jobs during October. Jason Sen, Analyst at DayTradeIdeas.com recommends, “Failure to beat 1.3815/33 is likely again today & being overbought if we dip below 1.3785, we should continue lower to 1.3760 & perhaps as far as 1.3747/40. Just be aware that if this does not hold the downside we should see 1.3718 before a buying opportunity at 1.3694”.
EUR/USD key levels
The pair is now advancing 0.13% at 1.3763 with the next resistance at 1.3818 (high Oct.28) ahead of 1.3833 (2013 high Oct.25) and finally 1.3859 (high Nov.11 2011). On the flip side, a break below 1.3727 (MA10d) would expose the psychological level at 1.3700 followed by 1.3662 (low Oct.22).
EUR/USD ignored EMU data
Today’s FOMC meeting is undoubtedly the main attraction in the FX space, as demonstrated by the scarce, if any, reaction to fairly decent euro data for the month of October. Consumer Confidence came in in line with expectations while Economic Sentiment and Industrial Confidence surpassed forecasts. No further data are expected in the 17-nation bloc, while the ADP report is next in the US calendar. Prior surveys expect the US private sector to have created 150K jobs during October. Jason Sen, Analyst at DayTradeIdeas.com recommends, “Failure to beat 1.3815/33 is likely again today & being overbought if we dip below 1.3785, we should continue lower to 1.3760 & perhaps as far as 1.3747/40. Just be aware that if this does not hold the downside we should see 1.3718 before a buying opportunity at 1.3694”.
EUR/USD key levels
The pair is now advancing 0.13% at 1.3763 with the next resistance at 1.3818 (high Oct.28) ahead of 1.3833 (2013 high Oct.25) and finally 1.3859 (high Nov.11 2011). On the flip side, a break below 1.3727 (MA10d) would expose the psychological level at 1.3700 followed by 1.3662 (low Oct.22).