EUR/USD Weekly Technical Report 3-7/6/2013

ecPulse
2013-06-03 12:12PM UTC

 

Over daily basis, we notice stability above 23.6% correction of the descending wave starting from 1.3711 levels toward the bottom at 1.2477, this correctional level resides at 1.2970 levels. The pair has also stabilized above key support level of the bullish wave and above Linear Regression Indicators. Therefore, trading above 1.2880 will be considered positive this week, while stability above 1.2945 is more positive. Stochastic reflects negative momentum signals but we will ignore them unless the aforementioned support levels 1.2945 and 1.2880 are broken.

 

The trading range for this week is among the key support at 1.2725 and key resistance at 1.3225.

 

The general trend over short term basis is to the downside targeting 1.2560 as far as areas of 1.3270 remains intact.

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...