EUR/USD stuck below $1.3400

January 23, 2013

EUR/USD has been quite volatile yesterday: the pair was trading in the $1.3265/3370 range. Euro has twice tested the levels below $1.3300, but returned back. Today the pair is trading on a downside and once again testing $1.3300.

In a long-term we still stay bullish, but for now the technical picture shows there is some room for downward correction. Euro is now trading very close to an 11-month high of $1.3405. Let’s have a look on a weekly chart: the pair is struggling to overcome the 200-week EMA ($1.3345) and fix above the weekly Ichimoku Cloud ($1.3300). On a monthly chart growth is contained by the 50-month EMA ($1.3370). The pair is trading at the lower boundary of the strongly negative monthly Ichimoku.

Investors remain indecisive ahead of these resistance levels even despite the improving risk sentiment and evident progress in euro zone. It seems that they need some time to prepare psychologically for a break of $1.3400. EUR/USD could extend the downside to the $1.3200 support or even to $1.3150. We would expect euro to bounce from there and to resume growth. We have already seen a similar scenario in late December 2012. The next upside targets are seen at $1.3400, $1.3480 and $1.3500.

Publication source
FBS information  FBS reviews

February 17, 2017
Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...
February 16, 2017
Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017
Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...

OctaFX Rating
NPBFX Rating
Cms Trader Rating
Orbex Rating
FXCM Rating
Vantage FX Rating

GTOptions Rating Rating
TopOption Rating
Banc De Binary Rating
IQ Option Rating
Porter Finance Rating