14 Nov 2013
EUR/USD has failed thus far to conquer 1.3500 and solidify the potential breakout
FXstreet.com (Barcelona) - The EUR/USD broke through the first level of potential resistance at 1.3475 but so far has failed to conquer the max upside resistance for this move at 1.3500.
EUR/USD to trade off of European and US data Thursday – with a little help from Ben and Janet
Over the next several hours, EUR/USD traders will be reacting to European data including French GDP, German GDP, Eurogroup meeting headlines, the ECB Monthly Report and the EU’s GDP. Later in the session they will get to work off of US data including weekly jobless claims, non-farm productivity and trade balance. Additionally, throughout the US session, traders will have to contend with more sound bytes from Ben Bernanke and / or Janet Yellen.
Technical outlook for EURUSD
Technicians say the chart of the EUR/USD could repair itself technically if it can manage to close back above the broken uptrend line at around 1.3500. That level is backed up by the 11/6 high of 1.3547. The nearest support levels for EUR/USD comes in at Wednesday’s low of 1.3389 and Tuesday’s low of 1.3358.
EUR/USD to trade off of European and US data Thursday – with a little help from Ben and Janet
Over the next several hours, EUR/USD traders will be reacting to European data including French GDP, German GDP, Eurogroup meeting headlines, the ECB Monthly Report and the EU’s GDP. Later in the session they will get to work off of US data including weekly jobless claims, non-farm productivity and trade balance. Additionally, throughout the US session, traders will have to contend with more sound bytes from Ben Bernanke and / or Janet Yellen.
Technical outlook for EURUSD
Technicians say the chart of the EUR/USD could repair itself technically if it can manage to close back above the broken uptrend line at around 1.3500. That level is backed up by the 11/6 high of 1.3547. The nearest support levels for EUR/USD comes in at Wednesday’s low of 1.3389 and Tuesday’s low of 1.3358.