Euro attempt to recovery from intra-day low at 1.3245 has been halted at 1.3340 level and the Euro has pulled back to levels above 1.3300; The Euro trades now at 1.3310, approximately at the day opening price.
Support levels lie at 1.3300 and below there, 1.3275 and intra-day low at 1.3245. On the upside, immediate resistance lies at 1.3340 intra-day high, and above there, 1.3385 congestion area, and then 1.3435 (May 5 high).
According to Peter Rosentreich, technical analyst at ACM, Advanced Currency Markets, the Euro will move sideways ahead of tomorrow’s ECB meeting: “The pair failed to reach 1.3479 (200d ma) as a pullback in risk damped USD bearishness. Failure to sustain move above 1.3412 neutralizes bullish theme & puts the focus on 1.3190 intra day support. We expect rangebound trading ahead of tomorrow ECB meeting.”
Popular Posts
-
The Yen rose against major currencies for second day in a row against European currencies. USD/JPY fell for third consecutive day. Today rea...
-
The U.S. dollar continued to gain today after the yesterday’s rather significant rally as the speculations that the world’s biggest economy ...
-
Australian Dollar has appreciated further on Tuesday’s European session, and the pair has risen from levels around 0.7400 to 0.7475; 7-month...
-
WASHINGTON -- A trio of reports Friday suggested the economy, while still sick, is healing a little. Consumer sentiment, for instance, got b...
-
The Gross Domestic Product (GDP) - The sum of goods and services produced by domestic or foreign companies. Industrial Production - A measu... -
The Euro has appreciated somewhat from 1.2450 low seen in early March to reach levels around 1.3300 on the first days of May, a trend which,...
No comments:
Post a Comment