EUR/USD Forex Analysis 8th of January 2013

 

 

The EUR/USD currency pair has recently started increasing its decline mainly because of the release of the N.F.I.B. Index numbers, these are higher than everyone expected very close to the 89 point at the end of the year 2012 compared to the predicted 86.4 point.

Meanwhile in the United States many social measures have been announced for the board today, for instance the C.C.C. also knows as the Consumer Credit Change has been predicted to fall close to the targeted 12,50 billion dollars. Nonetheless the trading feeling seems to be very difficult to land on this event took shape mostly because of the crystal clear possibility that a strong bearish sentiment may hit the markets in the next 2-3 days.

It would be more than wise to take this into our heads as selling and buying this “fiber” currency pair might as well fall downhill from the current point of 1.3079.

The EUR/USD currency pair is now on the downside of the 1.3095 point, nonetheless some support is expected to reside near the 1.2998 point right in front of the 1.2996 spot and finally the 1.2988 spot.
On the other side of the coin, the breach of the 1.3158 point begins to turn in fact and this event will surely lead the way to the 1.3162 and 1.3190 points.

 

 

High point= 1.3141

 

Low point = 1.3077

 

Trend index = -0.28% Slightly Bearish

 

 

 

Support 1 = 1.3067                                                  Resistance 1 = 1.3171

Support 2 = 1.3034                                                  Resistance 2 = 1.3204

Support 3 = 1.3002                                                  Resistance 3 = 1.3237