26 Sep 2013
EUR/USD gathering steam for another upside move ahead of European
FXstreet.com (Barcelona) - The EUR/USD reversed hard to the upside Wednesday primarily on weakness in the greenback. If this action holds up, a run to 1.3589 should be next for traders.
Light / minor European data should be uneventful; traders to focus on US data
EUR/USD traders will get to react to German and European data points (nothing that would move markets) during the European session and US GDP, weekly jobless claims, pending home sales and several “Fed Head” speeches later in the session.
Technical outlook for EUR/USD
Technicians say the EURUSD’s upside reversal Wednesday should lead to a run up to 1.3589 (Elliott Wave projection) in the short-term before another pause occurs. Support for EUR/USD comes in at 1.3457 (Wednesday’s low).
Light / minor European data should be uneventful; traders to focus on US data
EUR/USD traders will get to react to German and European data points (nothing that would move markets) during the European session and US GDP, weekly jobless claims, pending home sales and several “Fed Head” speeches later in the session.
Technical outlook for EUR/USD
Technicians say the EURUSD’s upside reversal Wednesday should lead to a run up to 1.3589 (Elliott Wave projection) in the short-term before another pause occurs. Support for EUR/USD comes in at 1.3457 (Wednesday’s low).