EUR / USD - Continuing to Bounce Between 1.33 and 1.34

January 21, 2013

As expected, last week the Euro has run into a brick wall of supply at 1.34 which was a previous resistance level earlier last year.   A couple of weeks ago, the Euro finished the week very strongly surging up through the resistance level at 1.33 that had established itself over the last month or so.   After falling from the resistance level at 1.34, the Euro did track down through the support at 1.33 a little however it was quickly bought up at prices above 1.3260.  In the daily chart, the Euro formed a doji pattern representing indecision and this can often be a reversal signal.  In the last few days, the Euro surged higher off the back of the support at 1.33 and pushed back within reach of the other key level at 1.34 before finishing the week falling back to 1.33.

Back in the middle of December, the Euro established a neat trading range trading between the significant level at 1.3150 and 1.33, after having broken through the resistance level around 1.3150. It eventually broke down through the support level at 1.3150 earlier this month moving sharply back to the round price level at 1.30.  This level stood up and provided strong support for the Euro which resulted in the strong push higher a couple of weeks ago.

Both 1.33 and 1.34 remain current key levels and the former is presently providing support again as it has done previously.

(Daily chart / 4 hourly chart below)

EURUSD Technical Analysis Daily Chart.

EURUSD Technical Analysis Candlestick 4 Hour Chart.

Publication source
OANDA information  OANDA reviews

October 21, 2016
US Presidential Election: Final Debate Aftermath
With the dust having settled after Wednesday final US presidential debate of the 2016 campaign between Donald Trump and Hillary Clinton, the results have become rather apparent...
October 20, 2016
Doting on Draghi
The ECB meeting arrives today when EURUSD is testing key levels. The mid-year lows at 1.0952 is perilously close as I write, whilst the post-Brexit referendum low of 1.0913 being in the frame after that. It’s hard to see the ECB adding to its quantitative easing policy...
October 19, 2016
A bullish presence on the market
The Dollar upturn seen in the recent weeks that was influenced by the firm belief in a rate hike of December fizzles out, after Yellen’s speech and the downbeat US inflation and manufacturing data...

Fort Financial Services Rating
Vantage FX Rating
HotForex Rating
Grand Capital Rating
FBS Rating
FIBO Group Rating

24option Rating
EZTrader Rating
OptionsXO Rating
Grand Option Rating
365BinaryOption Rating
Empire Option Rating