EUR/USD Forex Analysis 7th of January 2013

 

The EUR/USD currency pair also known as “fiber exchange” keeps on maintaining the trading momentum in a steady direction very close in the vicinity of the 1.3040 point, this shift occurred after the early opening of the European Union trading session.

All traders announce that there is a lot of pressure building near the 1.3017 point mainly because the “fiber currency pair” could not hang for too much time to the low trend and clearly had to move on.
The current trading week is marked by a full calendar there are some important economical events everyone needs to have a look at, these events are:

 

1)     The E.M.U. unemployment rate

2)     The release of consumer confidence

3)     The announcement of the retail sales

4)      The German trade balance is expected to touch the light on the 8th of January 2013

5)     The E.M.U. G.D.P. release on the 9th of January 2013,

6)     Most important of all economical events is the announcement of the monetary policy held by the European Central Bank – 9th of January 2013

 

Meanwhile in the United States all trading information will be closed by the EU calendar and the announcement of the retail sales in China. Many traders announce that this will slightly affect the dollar mostly because of the very good trading session last week.

The EUR/USD currency pair has recently moved back a few steps since last Friday trading point (04.01.2013). The current 1.3121 high point will continue to hold on until another support is expected to be at the 1.2875 spot.

 

High point= 1.3080

 

Low point = 1.3017

 

Trend index = -0.34% Slightly Bullish

 

 

Support 1 = 1.3033                                                  Resistance 1 = 1.3127

Support 2 = 1.3000                                                  Resistance 2 = 1.3159

Support 3 = 1.2967                                                  Resistance 3 = 1.3792