EUR/USD Weekly Technical Report 27-31/5/2013

ecPulse
2013-05-27 08:09AM UTC

Despite the intraday positivity and failing to stabilize below the key ascending support level, we need to see the pair stable below 23.6% correction shown on graph at 1.2970. Linear Regression Indicators tends to be negative without indicating a new bullish move. We prefer to remain neutral in our weekly report as the weekly trend is related to 1.2970 levels, as we should see how the pair would react around this level. We advice to monitor our technical daily reports to see the pair’s intraday movement.

 

The trading range for this week is among the key support at 1.2560 and key resistance at 1.3115.

 

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 ...