19 Jul 2013
EUR/USD attempts to close the week above the 1.3150
FXstreet.com (San Francisco) - In a latest effort to close the week above the 1.3150, the EUR/USD has jumped around 30 pips in the last hour from 1.3125 to break above the 1.3150 level and reach 2-day high at 1.3155.
Currently the EUR/USD is trading around 1.3147, 0.29% above opening price action. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as Momentum, CCI and MACD are pointing to the north while the Stochastic is bearish.
Above the 1.3150, next resistances are at 1.3165 and 1.3175. On the downside, supports are at 1.3125, 1.3100 and 1.3070. The FXstreet.com Forecast Poll shows that the EUR/USD is ready to resume the downside with a long-term with 1.3044 as average in the 1-week chart and below the 1.3000 in the next three months.
EUR/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD remains essentially short-term sidelined. Despite yesterday’s weakness, the intraday charts continue to suggest that there is scope for a move towards the 1.3208 high (charted on the 11th July). Having said that, we should see failure ahead of the 78.6% Fibonacci retracement at 1.3275. Dips are currently indicated to hold very near term in the 1.2985/40 band. Loss of this zone is needed to re-target the 1.2755/40 recent low and April low.”
Currently the EUR/USD is trading around 1.3147, 0.29% above opening price action. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as Momentum, CCI and MACD are pointing to the north while the Stochastic is bearish.
Above the 1.3150, next resistances are at 1.3165 and 1.3175. On the downside, supports are at 1.3125, 1.3100 and 1.3070. The FXstreet.com Forecast Poll shows that the EUR/USD is ready to resume the downside with a long-term with 1.3044 as average in the 1-week chart and below the 1.3000 in the next three months.
EUR/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD remains essentially short-term sidelined. Despite yesterday’s weakness, the intraday charts continue to suggest that there is scope for a move towards the 1.3208 high (charted on the 11th July). Having said that, we should see failure ahead of the 78.6% Fibonacci retracement at 1.3275. Dips are currently indicated to hold very near term in the 1.2985/40 band. Loss of this zone is needed to re-target the 1.2755/40 recent low and April low.”