EUR/USD Weekly Technical Report 11-15/3/2013

ecPulse
2013-03-11 06:54AM UTC

 

The pair failed last week to stable above key resistance level of the descending channel that organized trading from the top formed at point D of the AB=CD bearish harmonic Pattern. The pair is also back to trading around bottom C of the pattern residing at the psychological barrier 1.3000. The possibility of extending the downside move is available for achieving more of the harmonic pattern’s targets. As for this week, trading below 1.3080 levels is negative; Stochastic and Linear Regression Indicators supports our expectations.

The trading range for this week is among the key support at 1.2805 and key resistance at 1.3155.

The general trend over short term basis is to the upside targeting 1.4375 as far as areas of 1.2990 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 ...