EUR/USD Weekly Technical Report 13-17/5/2013
ecPulse
2013-05-13 07:24AM UTC
Trading for this week kick started at 23.6% correction at 1.2970 levels which represents an intraday interval for the rest of the week. Linear Regression Indicators offer a negative crossover indicating a downside move this week that remains valid by stabilizing below 1.3115. Stability below 1.3080 is preferable for a strong bearish move; whereas the pair should break 1.2845 levels to extend negativity.
The trading range for this week is among the key support at 1.2725 and key resistance at 1.3230.
The general trend over short term basis is to the downside targeting 1.2560 as far as areas of 1.3270 remains intact.
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