12 Dec 2013
EUR/USD capped at 1.3800?
FXstreet.com (Barcelona) - Having climbed overnight to test the 1.3800 level, EUR/USD has declined into the European morning, to where it is currently trading at 1.3709, up 0.08% on the day.
EUR/USD eyes on Draghi speech and ECB Monthly Report
This morning sees an early focus on ECB President Draghi’s speech, and the ECB Monthly Report, delivered at 08:00 and 09:00 GMT respectively. French and Italian CPI data is on the agenda too but should hold less of an impact, with Eurozone Industrial Production following at 10:00 GMT. Elsewhere, the SNB interest rate decision falls at 08:30 GMT, with the press conference following at 09:00 GMT, and while not likely to hold any great effect, should be noted due to the relationship between the two currencies.
How volatile has the pair been?
Presently, hourly RSI sits at 53, while ADX is at 23. The FXstreet.com propriatary indicators, the OB/OS Index and the Trend Index are neutral and slightly bullish respectively. Looking at a four week volatility heatmap, we can see that the coming hour, 09:00-10:00 GMT represents the peak volatility this morning before 15:00-16:00 GMT later.
What are today’s key EUR/USD levels?
Today’s central pivot point can be found at 1.3779, with support below at 1.3747 (S1), 1.3707 (S2) and 1.3675 (S3), and resistance above at 1.3819 (R1), 1.3851 (R2) and 1.3891 (R3). The range between 1.3787-1.3753 shows that support can be derived from a clustering of key technical levels. Matt Bacon-Hall of FXBeat comments that support below can be found at “1.3750-60 Light buying interest, 1.3700-10 Prop account and corporate bids, & 1.3620-30 Macro bids”, and resistance above at “1.3890-00 Corporate offers, 1.3840 Buy stops commence, & 1.3790-10 Mixture of offers from leveraged and corporate accounts.”
EUR/USD eyes on Draghi speech and ECB Monthly Report
This morning sees an early focus on ECB President Draghi’s speech, and the ECB Monthly Report, delivered at 08:00 and 09:00 GMT respectively. French and Italian CPI data is on the agenda too but should hold less of an impact, with Eurozone Industrial Production following at 10:00 GMT. Elsewhere, the SNB interest rate decision falls at 08:30 GMT, with the press conference following at 09:00 GMT, and while not likely to hold any great effect, should be noted due to the relationship between the two currencies.
How volatile has the pair been?
Presently, hourly RSI sits at 53, while ADX is at 23. The FXstreet.com propriatary indicators, the OB/OS Index and the Trend Index are neutral and slightly bullish respectively. Looking at a four week volatility heatmap, we can see that the coming hour, 09:00-10:00 GMT represents the peak volatility this morning before 15:00-16:00 GMT later.
What are today’s key EUR/USD levels?
Today’s central pivot point can be found at 1.3779, with support below at 1.3747 (S1), 1.3707 (S2) and 1.3675 (S3), and resistance above at 1.3819 (R1), 1.3851 (R2) and 1.3891 (R3). The range between 1.3787-1.3753 shows that support can be derived from a clustering of key technical levels. Matt Bacon-Hall of FXBeat comments that support below can be found at “1.3750-60 Light buying interest, 1.3700-10 Prop account and corporate bids, & 1.3620-30 Macro bids”, and resistance above at “1.3890-00 Corporate offers, 1.3840 Buy stops commence, & 1.3790-10 Mixture of offers from leveraged and corporate accounts.”